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Trump Warns of Economic Shockwaves with New Tariffs—August Deadline Now in Doubt”
U.S. President Donald Trump on Monday reignited global trade tensions by threatening steep new tariffs on over a dozen countries — but simultaneously signaled that the proposed August 1 deadline for reaching trade deals could still shift.....KINDLY READ THE FULL STORY HERE▶
In letters dispatched to key trading partners — including U.S. allies Japan and South Korea — Trump announced that tariffs he previously paused in April would not only return but increase significantly in three weeks. According to the letters, Tokyo and Seoul would face 25% tariffs on their exports, while nations such as Indonesia, Bangladesh, Thailand, South Africa, and Malaysia would be hit with levies ranging between 25% and 40%.
Despite the tough posture, Trump left the door open for last-minute negotiations. “I’d say the deadline is firm, but not 100 percent firm,” he said during a dinner with visiting Israeli Prime Minister Benjamin Netanyahu. When asked whether the letters marked his final offer, Trump responded: “I’d say final — but if they call with something better and I like it, we’ll go with it.”
Trump had initially announced broad tariffs during his so-called “Liberation Day” address on April 2, introducing a baseline 10% duty on imports across all countries. However, he postponed higher tariffs for 90 days after financial markets reacted negatively.
With that moratorium set to expire Wednesday, Trump issued letters ahead of the deadline, reiterating that trading relationships with Japan and South Korea were “unfortunately, far from reciprocal” — and warned of further penalties if those countries retaliated.
Still, in a move that added confusion, Trump signed an executive order extending the deadline to August 1, only to later hint that even that date might be fluid.
According to documents shared on Trump’s Truth Social platform, Indonesia will face a 32% tariff, Bangladesh 35%, and Thailand 36%. Most countries listed will see rates consistent with April’s proposals, though some — like Laos and Cambodia — received comparatively lower tariffs.
The pressure is mounting on the Trump administration to deliver tangible results, especially after pledging “90 deals in 90 days.” So far, only two firm agreements — with the UK and Vietnam — have been secured, alongside a scaled-down trade truce with China.
Japan’s Prime Minister Shigeru Ishiba labeled the planned 25% tariffs “deeply regrettable,” according to Japanese media reports. Meanwhile, South Korea’s National Security Adviser Wi Sung-lac met with U.S. counterpart Marco Rubio in Washington, expressing optimism that a bilateral summit could help resolve key disputes.
Asked why Japan and South Korea were singled out first, White House Press Secretary Karoline Leavitt said: “It’s the president’s prerogative. Those are the countries he chose.”
Thailand’s acting Prime Minister Phumtham Wechayachai on Tuesday said his government is seeking a better arrangement than the proposed 36% tariff, stressing the importance of maintaining strong ties with Washington. Malaysia’s trade ministry also issued a statement affirming the country’s commitment to pursuing a “balanced, mutually beneficial” trade agreement with the U.S.
U.S. Treasury Secretary Scott Bessent hinted that additional trade deals may be on the horizon, saying: “We’ll have several announcements in the next 48 hours.”
Markets reacted swiftly to Trump’s tariff threats. The Nasdaq dropped by 0.9%, while the S&P 500 slipped 0.8% from recent record highs.
Trump also threatened to impose an additional 10% tariff on countries aligning themselves with the BRICS economic bloc, accusing them of “anti-American policies” after they criticized his trade measures during a recent summit.
Meanwhile, diplomatic channels remain open. The European Commission reported that Commission President Ursula von der Leyen had a “productive exchange” with Trump on trade during a Sunday phone call.
Yakubu Gowon University (formerly University of Abuja) has graduated 17,300 students at its combined 29th and 30th convocation ceremonies held on Saturday at the main campus.....KINDLY READ THE FULL STORY HERE▶
The university also conferred honorary Doctorate Degrees on Paul Odili, Founder and CEO of Paulo Group of Companies; Prof. Yusuf Ali, SAN; and Emmanuel Issa, in recognition of their contributions to society.
Vice Chancellor, Prof. Hakeem Fawehinmi, said the honourees were selected based on their character, achievements, and commitment to excellence.
He urged graduating students to focus on what they can contribute to national development, stressing that character, discipline, and integrity would determine their success beyond the classroom.
According to him, certificates may open doors, but personal values and conduct will shape long-term achievements.
The Vice Chancellor also reminded the graduates to uphold the reputation of the institution wherever they go.
Fawehinmi disclosed that the 29th convocation covered the 2022/2023 academic session, while the 30th covered 2023/2024, with thousands graduating across undergraduate and postgraduate programmes.
Speaking after receiving his honorary award, Dr. Odili dedicated the recognition to Nigerians with dreams and encouraged young people to remain persistent in pursuing their goals.
He also pledged support for the university, promising collaboration aimed at addressing key challenges facing the institution.
The Federal Government has released an updated list of items banned from importation into Nigeria, in a move aimed at protecting local industries and reducing pressure on foreign exchange.....KINDLY READ THE FULL STORY HERE▶
The revised prohibition schedule, dated April 1, 2026, outlines 17 broad categories of goods that are no longer allowed into the country through any entry point.
According to the Federal Ministry of Finance, the policy affects a wide range of products, including food items, pharmaceuticals, household goods, and industrial materials.
One of the most notable aspects of the list is the ban on several widely used medicines under specified HS codes, including paracetamol, metronidazole, cotrimoxazole, chloroquine, aspirin, folic acid, and some vitamin supplements. The government says these are now to be produced locally.
The restriction also covers pharmaceutical waste, which remains completely prohibited.
In the agriculture and food sector, the importation of poultry, pork, beef, and eggs remains banned, although an exception was made for hatching eggs used for breeding and research purposes.
Retail-packaged vegetable oils, sugar products, cocoa derivatives, tomato paste, and certain bottled water products are also included in the import restrictions, with emphasis on encouraging local production.
The policy further bars detergents, soaps, ballpoint pens and refills, cement, certain fertilizers, packaging materials, and specific steel and glass products.
The Nigeria Customs Service has been directed to enforce the new rules strictly, with importers and businesses advised to comply fully to avoid seizure of goods and penalties.
ADC chieftain and publisher, Dele Momodu, has dismissed calls for former Vice President Atiku Abubakar to withdraw from the 2027 presidential race, describing the push as unfair and politically motivated.....KINDLY READ THE FULL STORY HERE▶
Momodu was reacting to comments by activist Zekeri Idris Jnr, a supporter of Peter Obi, who urged Atiku to step aside over concerns about his age, which would be about 80 by 2027.
In a post on his X handle on Saturday, Momodu said attention should be focused on holding the government accountable rather than targeting Atiku’s political ambition.
The exchange followed a viral video where Idris insisted that Atiku should support younger aspirants instead of contesting, arguing that voters would not back an elderly candidate.
Idris also suggested that Atiku should act as a statesman and support younger politicians such as Rabiu Musa Kwankwaso and others.
Responding, Momodu cited several world leaders who held office at advanced ages, arguing that experience should not be dismissed in leadership discussions.
He questioned what should disqualify Atiku from contesting, insisting that age alone is not a valid reason.
Atiku, who lost the 2023 presidential election to President Bola Tinubu, is reportedly considering another run in 2027 under the African Democratic Congress (ADC).
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