Trump announces new tariff rates to 14 nations
Donald Trump just announced fresh tariffs on imports from 14 countries, kicking in August 1, 2025.
The rates are pretty steep—25% for places like Japan and South Korea, all the way up to 40% for Laos and Myanmar.
Other countries like Cambodia, Thailand, Bangladesh, and Serbia will see tariffs between 35-36%.
South Africa and Bosnia & Herzegovina land at a 30% range.
US shoppers could feel the pinch
Trump says these moves are about fixing "significant trade deficits," but higher import costs could mean pricier goods for US shoppers.
This strategy breaks from big global trade deals and focuses on one-on-one negotiations—so far only the UK and Vietnam have made deals under this approach.
Experts warn it could shake up supply chains and strain ties with key partners like Japan and South Korea.
If you're into tech or fashion brands that rely on imports, this could impact what you pay down the line.