In a surprising twist that has global markets buzzing, the 90-day tariff pause has ended with new US tariffs imposed on 14 nations. US President Donald Trump announced rates ranging from 25% for long-time partners like Japan and South Korea to as high as 40% for countries including Laos and Myanmar. These measures are set to take effect on August 1, 2025, leaving just a few weeks for any potential negotiations. 😮
Initial promises of widespread trade talks have fizzled out. Despite claims that over 100 countries were eager to negotiate, only a framework agreement with Vietnam materialized. Meanwhile, discussions with other major players—including the EU, the Chinese mainland, Canada, Mexico, the Taiwan region, India, and others—remain at a standstill.
Adding to the drama, the US global trade deficit has surged in the first five months of 2025, driven by a jump in imports while exports lagged behind. With forecasts pointing to an annual deficit exceeding $1.44 trillion, it seems these tariffs might be stirring up more turbulence than intended.
For young professionals and tech enthusiasts across South and Southeast Asia, these developments are a reminder of how global policies can impact our local tech markets and day-to-day lives. Whether it’s the cost of the latest gadgets or shifts in the startup scene from Bangalore to Jakarta, staying informed is key. Keep your eyes peeled as these trade ripples make their way across the world! 🚀
Reference(s):
cgtn.com
