Trump announced 25% tariffs on Japan and South Korea
President Trump said yesterday that South Korea and Japan would face a new 25 percent tariff on their exports as of Aug. 1. He also extended a pause on steeper tariffs against dozens of other nations that was set to take effect tomorrow.
Markets dropped on the news. Investors seemed to view the rates as punishingly high for two of America’s biggest trading partners.
Trump also posted several letters to social media detailing higher tariffs on other countries: 40 percent for Myanmar and Laos, 30 percent for South Africa and 25 percent for Kazakhstan and Malaysia. Here’s a full list of the president’s tariff threats.
Background: For the past 90 days, the administration has been trying to reach trade deals with numerous countries. So far, the U.S. has preliminary deals only with Britain and Vietnam.
Context: Negotiations with Japan and South Korea have been proceeding more slowly than those with other countries, in part because both countries have held elections, and because Trump has continued to impose or threaten other tariffs on their major exports, including cars, steel and electronics. Japan and South Korea have been hesitant to strike a deal with the Trump administration, worried that they will be hit with more tariffs down the road.
For more: Read Trump’s letter to President Lee Jae Myung of South Korea.
For rescuers, a harrowing search for survivors in Texas
The floods in Texas have become one of the deadliest flooding disasters in the U.S. in the past 100 years. During the fourth day of searching for survivors, the death toll rose to more than 100 people. Camp Mystic, an all-girls Christian summer camp that was caught in the surging waters, said that at least 27 young campers and staff members had died. And more rain was in the forecast. Here’s the latest.
Many rescue stories from the past two days have been harrowing. We spoke with a Coast Guard rescuer who saved 165 people at Camp Mystic. A 22-year-old woman was rescued after clinging to a tree overnight. A young girl was found after floating on a mattress for hours.
Officials faced more questions about whether more should have been done to give warnings and to evacuate areas around the Guadalupe River. Senator Ted Cruz of Texas said there would be a “careful examination of what happened.” Kerr County, the hardest-hit area, discussed buying water gauges and sirens in 2017, but the plan was rejected as too expensive.
The floodwaters rose fast: Torrential rains turned the river from a small stream into a raging, destructive force in less than 10 hours, a Times analysis shows. About 120,000 cubic feet of water per second came rushing downstream. That’s greater than the average flow rate across Niagara Falls.
| The aftermath of an Israeli strike on a beachfront restaurant in Gaza City last week. Saher Alghorra for The New York Times |
Israel and Hamas held a second day of truce talks
While Prime Minister Benjamin Netanyahu was in Washington yesterday for talks with the Trump administration, Israel and Hamas appeared to be closer to a cease-fire in Gaza than in recent weeks, but they were still wrangling over the terms of a deal that would see the release of hostages.
Officials from Israel and Hamas were holding talks in Doha, Qatar, on ending the war. Hamas has insisted that any deal must pave a path to a complete and lasting end to the fighting.
Netanyahu met with Trump at the White House. At a White House dinner that both leaders treated as a kind of victory lap after their joint strike on Iran, Netanyahu said he had nominated Trump for the Nobel Peace Prize. Here’s the latest.
| MORE TOP NEWS |
| Ukraine: The military is struggling to hold Kostiantynivka, the gateway to its last major defense in the Donetsk region, and it is using fishing nets to snare drones. Australia: Erin Patterson was found guilty of murdering three of her husband’s relatives with poisonous mushrooms in a beef Wellington served at lunch. Taiwan: At least two people were killed and more than 500 others injured after Typhoon Danas hit the island’s crowded western edge. Energy: Canada sent its first shipment of natural gas to South Korea in a bid to reduce its trade reliance on the U.S. South Africa: After apartheid, the country outlawed the use of torture by police officers, but a Times analysis found that the use of suffocation, known as tubing, has continued. Indonesia: Mount Lewotobi Laki-laki on the island of Flores erupted for about six minutes, sending an ash cloud soaring much higher than that of an eruption last month. Iran: The government is carrying out a mass expulsion of Afghan refugees, with hundreds of thousands deported in recent weeks. Politics: Trump called Elon Musk “off the rails” and a “train wreck” after Musk said he was creating a political party, called the America Party. Tesla’s stock dropped as investors reacted to the plan. |
| SPORTS NEWS |
| Tennis: Jannik Sinner advanced after Grigor Dimitrov, above left, had to withdraw because of an injury as Wimbledon’s second week began. Soccer: We got a look behind the scenes at Everton’s brand-new 800 million pound stadium as it prepares to host its first Premier League match. Cycling: Tim Merlier narrowly managed to win Stage 3 of the Tour de France after multiple crashes in closing stages. |
| MORNING READ |
On the beaches of Rio de Janeiro, just about anything you need comes to you. Vendors sell chairs and umbrellas, grilled meat and beer, soccer balls and swimsuits.
Now, the mayor wants to bring some order to a sometimes chaotic scene, with rules that could force many vendors out of business. Some residents fear that the change will spoil the vibrant culture they cherish.
| CONVERSATION STARTERS |
| Focus challenge: This Indian painting from the early 1800s has a story. Can you tell what it is? Fun house: Renting a vacation home with friends allows you to escape your lives collectively. Here’s how to avoid falling out with one another. Big debut: Michael Rider arrived on the runway as the new designer for Celine, with oversize jackets, men’s leggings and a lot of gold chains. Avignon Festival: For the first time since 2011, dance took center stage on the festival’s biggest night. The reaction was mixed. |
| ARTS AND IDEAS |
Menopause myths
There are lots of misconceptions out there about menopause: inescapable hot flashes, hormonal chaos, sexless partnerships. These stereotypes are deeply ingrained, and few are fully accurate.
One of the biggest myths suggests that women just need to tough it out, but experts say that doing so can lead to serious problems. For example, women who have frequent or severe hot flashes can develop cardiovascular disease, but treatment can reduce the risk.
Another falsehood is that menopause is a time of decline and loss. For some women, it can be freeing. Read more.
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Cook: Sweet and spicy tofu with soba noodles is an ideal low-effort, high-yield meal.
