Trump imposes tariffs up to 40% on 14 countries, pressuring allies to shift production to the US and avoid ties with BRICS. Tensions mount globally.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.

The yen fell broadly on Tuesday while the dollar held steady as U.S. President Donald Trump unveiled 25% tariffs on goods from Japan and South Korea in the latest development of his chaotic trade war.

Japan's trade deal with the U.S. must include tariff concessions for its vital automobile industry, top trade negotiator Ryosei Akazawa said on Tuesday, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

Japanese Prime Minister Shigeru Ishiba called the announcement of slightly higher US tariffs “truly regrettable” while he vowed to continue to protect his nation’s interests in the extended trade negotiations.

Japanese Prime Minister Shigeru Ishiba said on Tuesday that Japan would continue negotiations with the United States to seek a bilateral trade deal that benefits both countries. Japan has received a proposal from the United States to continue trade discussions until the newly set August 1 deadline,