Governments, markets and companies digest president's announcement
U.S. President Donald Trump has imposed unilateral tariff increases on countries around the world, accusing them of unfair trading practices. (Nikkei montage/Source photos by Reuters)
TOKYO -- Hours ahead of his Aug. 1 deadline for new "reciprocal" tariffs, U.S. President Donald Trump has announced the rates he is going to impose on imports of goods from dozens of countries.
The new rates include 25% on India, 20% on Taiwan and 19% on Thailand, Malaysia and Cambodia. Countries that run a trade deficit in goods with the U.S., such as Singapore, will face the baseline rate of 10%. Some of Asia's smallest economies have been hit hardest: Laos and Myanmar both face 40%.
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