US EditionAsia-Pacific Markets Mostly Lower After Trump Shifts Goalposts on Tariffs Again
- U.S. President Donald Trump confirmed on August 1 that tariffs first announced in April will go into effect on that date for countries without a trade deal.
- Tariffs were originally scheduled to begin on July 9 but were postponed to August 1 to allow additional time for renegotiations with trading partners.
- Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick stated in interviews that the president is currently setting tariff rates and deals for countries lacking agreements.
- Trump announced an additional 10% tariff on countries aligning with what he described as anti-American BRICS policies and said letters detailing country-specific tariff rates will be sent starting Monday.
- Asia-Pacific markets mostly declined on August 1 as U.S. stock futures dropped following confirmation that tariffs would be implemented starting August 1, while the Reserve Bank of Australia was expected to reduce its interest rate by a quarter of a percentage point, bringing it down to 3.60%.
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The White House has sent letters with new tariffs to around a dozen countries, including many Asian states.
·Zürich, Switzerland
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Last Saturday, Donald Trump said that the US Government would send letters, "probably to 12" countries with which no trade agreement was reached, at least 82 deaths in Texas.
·Portugal
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Coverage Details
Total News Sources30
Leaning Left8Leaning Right4Center3Last UpdatedBias Distribution53% Left
Bias Distribution
- 53% of the sources lean Left
53% Left
L 53%
C 20%
R 27%
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