Tuesday, July 8

United States President Donald Trump has made some significant changes to the country's tariffs on other nations, further extending a pause on tariff arrivals for many countries.

Trump originally placed reciprocal tariffs on various countries around the world on April 2, which he labeled "Liberation Day." However, those tariffs were paused soon after, on April 9, with Trump confirming that they would resume on July 9. This was in order to give countries time to move their manufacturing to the United States, which was his primary goal-- companies which manufactured parts inside the US would not face the tariffs, reducing the costs required to sell goods to American consumers.

Then, yesterday, just two days before the end of that 90-day pause on tariffs, Trump extended the deadline yet again, and he has also changed up the tariff rates that will hit countries on August 1.

The countries that will see tariff increases are:

• Japan: 24% on April 2 to 25% on August 1

• Malaysia: 24% on April 2 to 25% on August 1

The countries that will see tariff decreases are:

• Laos: 48% on April 2 to 40% on August 1

• Myanmar: 44% on April 2 to 40% on August 1

• Kazakhstan: 27% on April 2 to 25% on August 1

• Bangladesh: 37% on April 2 to 35% on August 1

• Bosnia and Herzegovina: 35% on April 2 to 30% on August 1

• Cambodia: 49% on April 2 to 36% on August 1

• Serbia: 37% on April 2 to 35% on August 1

• Tunisia: 28% on April 2 to 25% on August 1

Additionally, Trump also sent letters to South Korea (25%), Indonesia (32%), and Thailand (36%), which will not see their tariff rates change, but he aims to convince countries to move manufacturing to the US by building pressure using these letters. He has confirmed that if countries are willing to change their trade policies toward the United States, he will lower the tariffs, but there are only three and a half weeks before the new tariffs take effect.

All of these tariffs are part of Trump's attempt at lowering the US trade deficit and moving manufacturing back to the United States, but they have caused a stir in the global economy as both American and foreign companies suffer from falling stocks and changing economic conditions due to Trump's actions.

Fact of the Day (The Fact Site): If you point your car keys to your head, it increases the remote’s signal range. This is because all the fluids in your head act as fantastic conductors, allowing you to extend the remote’s range by a few car lengths.

Quote of the Day (Gracious Quotes): Failure is a tool to get to the promised land. We all enjoy light today. Thomas Edison failed a thousand times for us. (Folorunsho Alakija)

Word of the Day (Merriam-Webster): Procrastinate (verb, pruh-KRASS-tuh-nayt) - To procrastinate is to be slow or late about doing something that should be done, or about doing or attending to things in general.

In a Sentence: Tickets to the event are selling swiftly, so don't procrastinate—buy yours today.