Funding & Business
Trump Reveals New Batch of Tariffs From Iraq to Philippines
US President Donald Trump unveiled a new round of tariff demand letters on Wednesday with levies set to hit in August on imported goods from partners who fail to reach agreements with the US.
Trump said he would levy a 30% rate on Algeria, Libya, Iraq and Sri Lanka, with 25% duties on products from Brunei and Moldova and a 20% rate on goods from the Philippines. The levies were largely in line with rates Trump had initially announced in April, though Iraq’s duties are down from 39% and Sri Lanka’s reduced from 44%.
Trump began notifying trading partners of new rates on Monday ahead of a deadline this week for countries to wrap up negotiations with his administration and posted to social media that he planned to release “a minimum of 7” letters on Wednesday morning, with additional rates to be posted in the afternoon. Brett Bruen, President and CEO of Global Situation Room joins to discuss. (Source: Bloomberg)
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Fuji Media Holdings Inc. shares fell 4.2% after the broadcaster said it’s considering measures to stop one of Japan’s most prominent activist investors from gaining control of the firm.
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Australian Treasurer Jim Chalmers and the Reserve Bank’s interest-rate setting board have agreed that members will conduct at least one speech or public engagement a year, as well as publishing unattributed votes.
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Nissan Motor Co. is expected to sell some of its upcoming $4 billion foreign-currency bonds at a record-high coupon, piling more pressure on the struggling Japanese automaker as it seeks to turn around its business.
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