Summary
- Trump is set to introduce new tariffs on dozens of countries as soon as this week.
- The U.S. administration is reviewing whether to keep the existing 10% global tariff or impose higher duties on some countries.
- If the new tariffs exceed South Korea's 15% ceiling, they could weigh on Korean exporters and financial markets, as well as inflation, interest rates and risk-asset sentiment.
Forecast Trend Report by Period
President Donald Trump may impose new tariffs on dozens of countries as soon as this week, the Financial Times reported.
Odaily, a cryptocurrency news outlet, reported on July 21, citing the Financial Times, that Trump is preparing to roll out new tariffs on dozens of countries.
The move would follow the expiration on July 24 of the Trump administration's 10% global tariff, after the U.S. Supreme Court ruled its reciprocal tariff framework unlawful.
The Financial Times said the administration is considering keeping the existing 10% tariff rate for many countries. It is also exploring legal tools to impose higher tariffs on some nations.
Markets are focused on the possibility that the administration could turn to Section 301 of the Trade Act as an alternative to the current global tariff regime. Section 301 allows the U.S. to impose unilateral tariffs in response to unfair trade practices by specific countries.
For South Korea, the key question is whether a 15% ceiling discussed during trade negotiations with the U.S. will remain in place. If new tariffs exceed that level, they could weigh on Korean exporters and the country's financial markets.
Broader tariffs could slow global trade and add pressure to import prices. Markets are also watching how any additional tariff measures could affect inflation expectations, the interest-rate path and sentiment toward risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.