GBP/USD edges higher after two days of losses, trading around 1.3630 during the Asian hours on Tuesday. The pair appreciates as the US Dollar (USD) loses ground as traders adopt caution after US President Donald Trump announced updated tariff rates on 14 countries that have yet to secure trade deals with Washington.
The Trump administration announced levies of 25% on goods from Japan and South Korea, with threatens to escalate tariffs if the two nations retaliate. The US also imposed 25% rates on Malaysia, Kazakhstan and Tunisia, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. Other nations hit with levies included Indonesia with a 32% rate, Bangladesh with 35%, and Thailand and Cambodia with duties of 36%. President Trump has also signed an executive order delaying the implementation of new tariffs from July to August 1, giving negotiators more time to reach agreements, per Bloomberg.
The Trump administration announced levies of 25% on goods from Japan and South Korea, with threatens to escalate tariffs if the two nations retaliate. The US also imposed 25% rates on Malaysia, Kazakhstan and Tunisia, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. Other nations hit with levies included Indonesia with a 32% rate, Bangladesh with 35%, and Thailand and Cambodia with duties of 36%. President Trump has also signed an executive order delaying the implementation of new tariffs from July to August 1, giving negotiators more time to reach agreements, per Bloomberg.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.