The United States will impose 25% blanket tariffs on imports from Japan and South Korea starting August 1, President Donald Trump revealed Monday. Monday in New York, wiping out $16.7 billion from his net worth, according to the Bloomberg Billionaires Index. If that drop were to hold, it would be the biggest decline for the shares since Musk’s initial falling out with Donald Trump over the president’s tax bill in early June. A 100% “surge in power outages” is expected within five years if planned power plant closures remain on schedule without new units to replace them, the Energy Department, which is releasing the report on Monday, said in a statement.
- Shares of LG Display, the maker of organic light-emitting diode display (OLED) products for notebooks and other electronics under LG Electronics, were down by more than 6%.
- Both letters say that the 25% tariffs are separate from additional sector-specific duties on key product categories.
- It cited a security official as saying preliminary examination indicated the fire was likely caused by an electrical short circuit.
- There are no fixed times for reviewing the composition of the index, since changes are only made by the commission as and when they are needed.
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“Staying on the present course would undermine U.S. economic growth, national security, and leadership in emerging technologies,” it said. The duty would be charged on top of any other tariffs and there would be no exceptions to the policy, Trump said in a Sunday-night post on Truth Social. BRICS is a grouping that includes Brazil, China, South Africa and India. The US-listed shares of South Korean companies SK Telecom and LG Display slid in midday trading following President Donald Trump’s announcement of 25% on the country. The main takeaway from Trump’s tariff letters is that a July 9 deadline to negotiate the original tariffs will be pushed back to Aug. 1. The market surged nearly 30% from its lows as Trump walked back his tariffs.
Representatives of Google didn’t immediately respond to a request for comment. “It’s the kind of profile that commands a premium, even as the broader application software market becomes more selective,” Miner said in an interview with Bloomberg News. The regulator didn’t detail the scope of what it described as a “temporary” outage of telecommunication services. The US State Department is revoking the foreign terrorist designation of an Islamist rebel group that played a key role in the downfall of Bashar Al-Assad’s regime in Syria, a week after President Donald Trump ordered the termination of sanctions on the country. Shares of Toyota Motor and Honda Motor fell 4% following Trump’s posts.
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Shares for the $4.95 billion iShares MSCI South Korea (EWY) fell 3.6%, the most since April. Figma Inc.’s expected US initial public offering is shaping up as a potential summer blockbuster first-time stock sale, as investors look to back a rare debut from a fast-growing software company. Imports from at least seven countries will face steep tariffs beginning Aug. 1, Trump revealed in a series of Truth Social posts on Monday.
US-traded shares of Toyota Motor dropped more than 4%, while Honda Motor shares slid nearly 4%. Shares of LG Display, the maker of organic light-emitting diode display (OLED) products for notebooks and other electronics under LG Electronics, were down by more than 6%. The greenback strengthened 0.6% against a basket of peers in afternoon trading in New York, picking up steam after Trump moved to impose 25% levies on goods from Japan and South Korea. “We are grateful that Samsung will address Epic’s concerns,” Epic Chief Executive Officer Tim Sweeney said in a post on X. He didn’t elaborate and an Epic spokesperson declined to offer further comment, while a Samsung spokesperson referred to Sweeney’s post.
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- The Dow Jones, S&P 500, and Nasdaq futures showed modest movement after Trump extended the July 9 tariff start date to August 1, offering trading partners more time to negotiate.
- The country that accounts for about a quarter of the world’s mined copper shipped $4.7 billion worth of the metal last month, the biggest haul since December of 2021, according to data released by the Chilean central bank on Monday.
- Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded.
- The force index indicator is a technical tool used by traders to measure the power behind movements in the price action.
Key data points
European natural gas prices edged higher as traders eyed US President Donald Trump’s fast-approaching tariff deadline and the impact levies will have on global economic activity. The market’s slide followed a wave of tariff threats from President Donald Trump, including a fresh one toward Brics countries. Selling picked up after Trump posted several letters to world leaders promising tariffs ranging from 25% to 40% starting on Aug. 1 if they do not make a deal in the meantime. The initial rollout of Trump’s so-called reciprocal tariffs in early April sparked fears of a US recession and sent energy prices tumbling on expectations that a weaker economy will curb demand. For Europe, which competes with other nations for liquefied natural gas cargoes, a further drop in prices could help ease its efforts to replenish fuel stockpiles ahead of next winter. Treasury Secretary Scott Bessent said Monday that the US will make several trade announcements in the next 48 hours.
Trump shared screenshots of signed form letters best forex chart patterns for efficient trading to the leaders of South Korea, Japan, Malaysia, Kazakhstan, South Africa, Laos and Myanmar, that dictated new tariff rates for each nation. There isn’t much on the economic calendar this week, so stocks may struggle in the sessions ahead if the White House continues to throw around tariff threats. On the flip side, any deals that reduce the levies will be welcomed by Wall Street. Trump renewed his threat to hit major trading partners, sending stock markets tumbling. The authors, in a blog post published Monday, found a 9% probability the federal funds rate would hit the so-called zero lower bound, or ZLB, over a seven-year horizon, with the current high level of interest-rate uncertainty contributing to that risk. Netblocks, a London-based internet watchdog organization, said a “major” disruption had been registered in Egypt.
US Stock Market LIVE Updates: US will impose a 25% tariff on Malaysia, says Trump
The move is part of Trump’s rush to overhaul US trade policies that have served as a steady source of uncertainty for markets, which has helped bolster demand for gold, a safe-haven asset. The two Asian nations now have a narrow three-week window to open their markets to American products and manufacture more in the US to avoid his unilateral levies. Stocks sold off to start the week on Monday (July 7) after President Donald Trump posted letters to countries indicating new tariffs on imported goods. “Regardless of the news, the market came into this week trading very extended,” writes Bespoke Investment Group’s Justin Walters.
Investors now await the Fed minutes and Delta’s earnings to see what’s next for the economy. White House press secretary Karoline Leavitt said that 14 letters will be sent on Monday, with more to be expected in the following days. She added that Trump will sign an executive order to delay his tariff deadline, previously anticipated to be sometime this week, until August 1.
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West Texas Intermediate crude advanced more than 1% to settle just below $68 a barrel, erasing earlier losses, while Brent settled above $69 a barrel. Saudi state producer Aramco will raise the price for Arab Light crude, its flagship grade, by $1 a barrel to $2.20 a barrel more than the regional benchmark for Asian customers in August, according to a sheet from the company seen by Bloomberg. The force index indicator is a technical tool used by traders to measure the power behind movements in the price action. Trump’s trade advisor Peter Navarro ripped into Apple’s reliance on China on Monday. The Federal Reserve can’t assume its benchmark lending rate won’t return to zero at some point in the future, according to a group of New York Fed researchers including the bank’s president, John Williams.
The first announcement from Trump placed tariffs of at least 25% on goods from Japan and South Korea starting August 1. Details on sectoral tariffs geared toward boosting US industrial production, including of aluminum, steel and copper, are still under discussion. Lula said the US president was “irresponsible for threatening tariffs on social media” before calling on world leaders to find ways to reduce international trade’s reliance on the dollar, a position shared by the group of emerging market nations. Gold pared losses after President Donald Trump said he’ll impose 25% tariffs on goods from Japan and South Korea starting August 1, the first announcements in what the US president promised would be a flurry of written warnings and trade deals on Monday. President Donald Trump announced Monday that the US would hit products from Japan and South Korea with 25% tariffs, sending shares of Toyota and Honda down.
There are no fixed times for reviewing the composition of the index, since changes are only made by the commission as and when they are needed.