US EditionTrump Tariffs: SE Asia Worried as US Targets Transshipments
UNITED STATES, JUL 16 – Trump's tariffs on over 150 countries are boosting U.S. federal revenue by $64 billion in Q2 and are part of a strategy to protect U.S. industries and reduce trade deficits.
- In a midweek address, President Donald Trump announced new 10-15% tariffs on imports from over 150 countries, effective August 1.
- Earlier this year, Trump, President, invoked a national emergency to justify tariffs, Trump said `to protect American industry, reduce the trade deficit, eliminate unfair trade practices, and restore the U.S. economic sovereignty.`
- Financial Times reported $64 billion in new revenue in this year's second quarter—an increase of $47 billion from last year and accounting for roughly 5% of federal revenue.
- In response, EU officials have threatened retaliatory tariffs and are set to reveal measures on August 1 after Trump warned of up to 30% levies.
- Amid talks, analysts and observers expressed doubts about whether the tariffs' economic effects will materialize before the August 1 deadline, with source highlighting concerns.
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US President Donald Trump has announced fresh reciprocal tariffs on all countries of the world and hundreds of countries are on his radar, on which tariffs can be announced at any time.
President Donald Trump stated Wednesday that he intends to send a single letter by which he will communicate a number of more than 150 countries to which tariffs will be faced, says Politico.
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They are not large countries and do not do that much business with the US, he said.
Coverage Details
Total News Sources26
Leaning Left6Leaning Right5Center2Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
15%
R 38%
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