Trump’s new tariff letters have sent shockwaves across global markets as he targets 22 countries with tough new trade threats just weeks before the August 1 deadline. From close allies like Japan and South Korea to BRICS nations like Brazil and South Africa,

Former Vice President Mike Pence criticized Donald Trump’s tariff agenda, saying it was a starkly different approach to trade from his first term that would harm American consumers and businesses.Pence told Bloomberg Television on Thursday said that the tariffs enacted during Trump’s first presidency,

It shows that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs.

Trump announced a 20% levy on the Phillippines, as per his latest Truth Social post. Laos: 40%. Myanmar: 40%. Thailand: 36%. Cambodia: 36%. Bangladesh: 35%. Serbia: 35%.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.

President Donald Trump's threats to impose high tariffs on countries make U.S. trading partners and investors nervous. But his sector tariffs could hurt consumers and businesses more in the long run.

STORY: The European Union said it was working on sealing a trade deal with the U.S. by the end of the month.European Commission President Ursula Von der Leyen said the EU was working closely with the Trump administration to reach a deal.