US markets rise amid Trump's tariff announcements
US stock markets kicked off Wednesday on a high, with all major indices rising as investors anticipated President Trump's tariff moves and trade negotiations, with fresh tariffs on over a dozen countries set to start August 1.
The Dow, S&P 500, and Nasdaq all saw early gains as investors reacted to the news.
Countries affected by new tariffs
Countries like Japan and South Korea face a 25% tariff, while Myanmar and Laos top the list at 40%.
Thailand, Cambodia, Bangladesh, Serbia, Indonesia, South Africa—and more—are also affected at varying rates.
Basically: a lot of places are now paying more to sell goods in the US.
Extra 10% tariff on BRICS nations
Trump also warned that BRICS nations (Brazil, Russia, India, China, South Africa) could see an extra 10% tariff soon.
This move adds more uncertainty for global trade and could shake things up for businesses worldwide.
White House's take on the matter
The White House says it's about shrinking trade deficits and pushing for fairer deals.
Companies moving their production back to the US might dodge these new fees.
Officials say talks are still ongoing—so more changes could be on the way.