On July 8, 2025, the White House formally notified 14 countries about the possible imposition of new tariffs, sparking reactions across global financial markets. This decision is part of the 'Liberation Day tariffs' initiative aimed at reducing reliance on unfriendly partners and supporting domestic manufacturers. Countries receiving notices included Japan, South Korea, Laos, Myanmar, Indonesia, and others. However, the UK and Vietnam avoided potential restrictions through negotiations. According to Reuters, the tariffs are set to be enforced from August 1, 2025, giving time for diplomatic resolutions. Markets reacted cautiously: the dollar strengthened, US stock indices dipped slightly, while Asian equities rose on expectations that China and its partners could benefit. Oil prices declined due to increased supply from OPEC+ and concerns over reduced demand amid trade shocks. Economists warn that this move could lead to both short-term and long-term effects, including rising import costs and restructured supply chains. There is also a risk of retaliatory measures, potentially triggering trade disputes. Sources: https://www.reuters.com/world/middle-east/global-markets-global-markets-2025-07-08/, https://apnews.com/article/22360b275c91795bcb71f43f8c77d577, https://www.reuters.com/business/energy/oil-prices-ease-traders-assess-us-tariffs-opec-output-hike-2025-07-08/