Trump Threatens Tariffs On 14 Nations | Global Markets React With Sharp Losses

World In Focus: A significant shift in U.S. foreign policy is unfolding, and global markets are feeling the heat. In a bold and unexpected move, President Donald Trump has announced sweeping new tariffs targeting 14 countries, including key allies like Japan, South Korea, and South Africa. The announcement, made via letters posted on Trump’s Truth Social platform, is already rattling global markets. The Dow Jones Industrial Average fell 422 points, while the S&P 500 and Nasdaq also saw sharp losses. Stocks began sliding midday after Trump announced that Japan and South Korea would face 25% tariffs starting August 1, with other countries, including Kazakhstan, Tunisia, Malaysia, Myanmar, Cambodia, and Laos, also facing new penalties, some as high as 40%.