Wall street’s major indices opened on a cautious note Tuesday, with investors reacting to President Donald Trump‘s latest tariff threats to 14 countries. In the early hours of trading, the Dow Jones Industrial Average slipped 60.05 points (0.14%) to 44,339.31. Meanwhile, the S&P 500 edged up 2.58 points (0.05%) to 6,233.03, and the Nasdaq Composite rose 62.52 points (0.31%) to 20,475.03. Trump on Monday unveiled a fresh wave of tariff measures, releasing official notifications to several countries outlining new reciprocal duties set to take effect on August 1, 2025.
Trump posted the first set of letters on his Truth Social account, revealing that imports from Japan and South Korea will face a 25% tariff. Later in the day, additional countries were named, including Myanmar, Laos, Thailand, South Africa, Bangladesh, Kazakhstan, Indonesia, Tunisia, Malaysia, Serbia, Cambodia, and Bosnia & Herzegovina. These letters follow Trump’s earlier warnings about a looming deadline for trade partners to finalise agreements with Washington. Over the weekend, he signaled plans to issue up to 15 such notifications, emphasizing that without new deals, the U.S. would reinstate the higher import tariffs first introduced in April.
The latest round of tariff notifications issued by President Donald Trump targets 14 countries with steep import duties, ranging from 25% to 40%. The highest proposed tariffs 40% have been slapped on Laos and Myanmar, followed by 36% on Thailand and Cambodia. Bangladesh and Serbia face 35% tariffs, while Indonesia is set to be hit with a 32% rate. South Africa and Bosnia & Herzegovina are each targeted with a 30% duty. Meanwhile, Malaysia, Tunisia, Japan, South Korea, and Kazakhstan have all been assigned a 25% tariff. The tariffs, part of Trump’s renewed trade offensive, are slated to take effect on August 1, 2025, unless trade agreements are renegotiated before the deadline.