Trump sets 25% tariffs on Japan and South Korea, and new import taxes on 12 other nations

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00:00International markets are once again under pressure from the White House.

00:04On Monday, Donald Trump published a series of letters addressed to 14 countries on his

00:09platform Truth Social, informing them of his decision to impose tariffs ranging from 25

00:15to 40 percent starting on the 1st of August.

00:19Trump hopes to improve his bargaining position in trade negotiations.

00:22We've seen a lot of positive developments in the right direction, but the administration,

00:28the president and his trade team want to cut the best deals for the American people and

00:32the American worker.

00:34Two key U.S. allies feature among targeted countries, Japan, accused of not opening its

00:40markets to American cars and rice, and South Korea, targeted on several of its exports.

00:47Other countries on Trump's list include Indonesia, Cambodia, Bangladesh, Tunisia and even South

00:53Africa, member of the BRICS trading bloc.

00:57The group criticised the U.S. trade offensive at its annual summit in Rio, prompting the

01:02wrath of Donald Trump, who threatened to apply an additional 10 percent on top of the initial

01:07tariffs, something his counterpart Lula strongly contested.

01:11It is neither responsible nor serious for the president of a country as large as the United

01:19States to threaten the entire world via the Internet.

01:25The world has changed.

01:27We don't want an emperor.

01:31In the face of Trump's threats, China is trying to calm things down.

01:35Beijing is opting for a more measured response.

01:39The BRICS are an important platform for cooperation between emerging markets.

01:43They do not engage in confrontation between different camps, nor do they target any particular

01:48country.

01:49On the European side, the 27 countries are hoping to reach an agreement on Wednesday and to

01:55limit U.S. taxes to 10 percent.

01:58the 24-7-6-7-7-7-9-8-7-8-9-6-5-7-4-7-8-7-8-7-7-7-7-7-8-8-7-7-8-8-7-7-8-8-8-8-7-8-8-9-8-7-7-7-8-7-8-7-8-7-8-8-8.

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