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.