US tariffs: Trump delays higher levies but announces new rates for some nations

Trump says the US will impose a raft of levies after pausing his Liberation Day tariffs.

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The latest development comes as a 90-day pause the White House placed on some of its most aggressive import taxes was set to expire this week.

The president renewed his threat of a 25% tax on products entering the country from Japan and South Korea and shared a batch of other letters to world leaders warning of levies from 1 August.

Higher tariffs had been set to come into effect on 9 July, having previously been suspended with White House officials saying they would look to strike trade deals.

When asked by a reporter whether the new August date was a hard deadline, Trump said: "I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that."