INSUBCONTINENT EXCLUSIVE:
US President Donald Trump unveiled higher tariffs for Japan, South Korea and a dozen other countries in a push for new trade deals Monday --
but extended the deadline for the steeper levies to kick in until August.Trump issued similar letters to countries including Indonesia,
Bangladesh, Thailand, South Africa and Malaysia, saying he would slap duties on their products ranging from 25 percent to 40 percent.These
mark a step up from the 10 percent levy the president earlier imposed on almost all trading partners.But the starting date of August 1 marks
suspended higher duties affecting dozens of economies for 90 days, a deadline that would have expired Wednesday.On Monday, Trump signed an
order formally extending the Wednesday deadline, postponing it to August 1.With the delay, White House Press Secretary Karoline Leavitt
and Thailand, 36 percent.Most countries receiving letters so far had duties similar or unchanged from threatened rates in April, although
some like Laos and Cambodia see notably lower levels.While the Trump administration had signaled hopes of striking dozens of deals by July,
there have been limited results so far.Washington has unveiled pacts with only Britain and Vietnam, while the United States and China agreed
the coming weeks.Both sides have so far held high-level talks in Geneva and London
The Nasdaq tumbled 0.9 percent and the S&P 500 lost 0.8 percent.Trump has also threatened another 10 percent tariff on countries aligning
Trump on trade when the pair spoke Sunday.Source: AFP- Agencies
