Trump Escalates Trade War with New Tariff Blitz on 14 Nations

U.S. President Donald Trump has announced steep new tariffs—ranging from 25% to 40%—on 14 countries, including allies like Japan and South Korea, starting August 1. The move aims to pressure nations into accepting more U.S. exports and shifting manufacturing to the U.S. Trump warned of harsher retaliation if countries respond with counter-tariffs but hinted at flexibility if trade barriers are reduced. Economists say Asian countries are unlikely to respond collectively due to differing interests. While some markets reacted negatively, others remained stable. So far, only China, Vietnam, and the UK have reached deals to ease tensions with the U.S.