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President Trump of the United States has announced that, commencing August 1, he will impose tariffs ranging from 25% to 40% on imported goods from 14 countries, including Japan and South Korea. Additionally, he has extended the "reciprocal tariff" grace period until August 1. This decision has sparked widespread concern among international trade circles, particularly the Executive Director of the International Trade Centre (ITC), who emphasized that Trump's actions have further intensified the uncertainty and instability within global trade. Trump justified this move by stating that it aims to address the trade deficit issues between the United States and these countries, and to incentivize relevant businesses to establish factories and production within US borders.
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