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 has sent letters to 14 countries outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1

Financial markets ignore the lack of clarity from the Trump administration over tariffs, though corporate America feels frustrated at the lack of direction. Mohamed El-Erian – Chief Economic Adviser at Allianz – explains what happens next.

Asian countries including Japan and South Korea said they’ll keep pushing for a better deal for their exports to the US after President Donald Trump shifted his tariff deadline to Aug. 1 and tweaked the rates he’s set for many economies.

Asian shares are mostly down as the Trump administration steps up pressure on trading partners to quickly make new deals before a Wednesday tariff deadline

By Jeff Mason and Leika Kihara WASHINGTON/TOKYO (Reuters) -Powerhouse Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of sharply higher tariffs that President Donald Trump now plans to impose from the start of August.