Donald Trump administration announced a 25 per cent tariffs on Japan, South Korea, Kazakhstan, Malaysia, Tunisia. US announced 30 per cent on South Africa, Bosnia and Herzegovina and 32 per cent on Indonesia.

The complete deal is likely to be signed after negotiations between the two countries later this year. The sources noted that this mini-deal is going to be beneficial to the country. Donald Trump's new tariffs on 14 countries,

U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller exporters such as South Africa and leaving companies with no clarity on the path forward.

Stocks fell on Wall Street as the Trump administration stepped up pressure on trading partners to make deals before punishing tariffs imposed by the U.S. take effect. The S&P 500 lost 0.8% Monday.

For many countries, the reprieve from President Donald Trump’s eye-watering tariffs, which were implemented on April 2 and temporarily reduced to 10% a week later, is now set to come to an end on August 1.

President Donald Trump has threatened to impose a 10 percent tariff on any country aligned with the BRICS bloc, delivering a potential economic blow to Russia.

President Donald Trump continued to express his displeasure with Russian President Vladimir Putin on July 8 and said he was open to sanctioning him.