Shares fell at session lepings on Monday when President Donald Trump again increased the trade voltages that plunged indices when he announced for the first time widespread tariff plans in April.
The film started to Trump Posted letters On his Social -Media platformTruth that he sent to Japanese and Korean officials, which they threatened with 25% tariffs for goods that were imported to the USA from August 1. The countries can still achieve a contract with his administration, which could avoid these tariffs.
Later in the afternoon, the President published additional letters that he sent to Laos and Myanmar, which will be exposed to 40% tariffs from August 1 to August 1, as well as Kazakhstan and Malaysia, in which 25% tasks will also take place. South Africa faces 30% tariffs. Trump also signed an executive order that expanded a 90-day “break” for his tariffs to August 1st. It was originally expired on Wednesday, July 9th.
The announcement of the extension of the tariff break was not enough to relieve investors. Immediately according to the posts of President alphabetPresent ApplePresent HondaPresent NvidiaAnd Toyota Everyone fell. The Nasdaq had dropped by 0.95% in the afternoon, while the S&P 500 fell by 0.89% and that Dow Jones Industrial Average violates 1.1%. The losses follow several indices Beat record highs last week.
A previous threat from Trump also had investors who were doing tariffs.
“An additional tariff of 10% is calculated with the anti-American policy of Brics. There will be no exceptions to this policy,” Trump wrote in another post-Sunday evening with regard to the intergovernmental organization between countries such as Brazil, China, Egypt, India, Saudi Arabia and Russia.
The collective bargaining prices on Monday are the first of many other trade announcements that the president will probably do this week, according to the press spokesman for the White House, Karoline Leavitt, and the finance minister Scott Bessent, who announced CNBC on Monday that “there will be a few busy days”.
Only about 54% of imports from Japan and 46% of imports from South Korea would be exposed to the 25% tariffs, according to the capital economy. This is because the new interest rate would not apply to goods that fall under the already implemented product -specific tariffs of the president such as cars and exceptions for electronics and pharmaceuticals.
“It is significant that Trump (still) has not published a letter that threatens higher tariffs for the European Union, which indicates that he continues to be satisfied, how this bilateral trade talks are going,” writes Paul Ashworth, chief north -America economist from Capital Economics. “Media reports indicate from the European side that a framework contract is designed shortly before the agreement, which would enable time for more detailed negotiations.”
In the meantime, Tesla had dropped by over 7% for the day after the CEO of Elon Musk’s explanation after which a new political party formed Farewell to the Republican Budget Act He declined.
