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Trump Announces New Set of Tariffs, Moves Deadline To August | Balance of Power
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July 7, 2025
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Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariffs rates on key trading partners, including levies of 25% on goods from Japan and South Korea beginning Aug. 1.
Trump also announced 25% rates on Malaysia and Kazakhstan, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. The nations were the first in what the president promised would be a flurry of unilateral warnings and trade deals announced on Monday, two days before agreements are due from trading partners facing his April 2 so-called reciprocal levies.
“Our relationship has been, unfortunately, far from Reciprocal,” Trump wrote in the letters.
On this edition of Balance of Power, Joe and Kailey speak with:
Tyler Kendall, Bloomberg Washington correspondent
Sarah Bianchi, senior managing director and chief strategist of international political affairs and public policy at Evercore ISI/Former-Deputy U.S. Trade Representative
Julie Fine, Bloomberg Dallas bureau chief
Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Senior Democracy Fellow with the Center for the Study of the Presidency & Congress and Bloomberg Politics Contributor
Natasha Hall, Non-Resident Senior Associate, Geopolitics and Foreign Policy Department at the Center for Strategic & International Studies
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Bloomberg Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
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