By Ye Xie, Bloomberg Markets Live reporter and strategist
After sealing his signature tax-and-spending bill, President Trump has turned his attention back to tariffs. The administration began unveiling its tariff plans on Monday, setting levies for nations such as Japan, South Korea and South Africa, which will take effect in August.
Markets’ response was mild, less dramatic than on ‘Liberation Day’ in early April. After all, Trump essentially extended the original July 9 deadline for reciprocal tariffs for another month.
