Trump is about to issue a letter specifying tariff rates, and several senior officials hinted that the negotiation deadline may be delayed!

· Trump sent tariff letters to 14 countries, imposing a 25% tariff on imports from Japan and South Korea starting August 1, and tariffs ranging from 25% to 40% on imports from Malaysia, South Africa, Indonesia, Myanmar, Thailand, etc. Any country aligning with the BRICS nations' anti-American policies will face an additional 10% tariff. An executive order was also signed to extend the suspension period for reciprocal tariffs until August 1. This news is bearish for the Thai baht, Japanese yen, and South Korean won. · The EU claims that trade negotiations with the United States have made good progress, and the Portuguese finance minister also believes that Europe and the United States are expected to reach an agreement with extremely low tariffs, possibly below 10%. According to sources, the EU is seeking an agreement with the US to offset the trade imbalance in automobiles, with the former potentially gaining basic tariff exemptions on aircraft and spirits. This news is positive for the euro. · The Houthi armed forces attacked commercial ships in the Red Sea for the first time since December last year. This news is bullish for crude oil and gold.

TOPONE Markets Analyst

2025-07-08 08:27:18