🗓️ July 8, 2025 — New York, NY — U.S. stock markets opened mixed Tuesday as Wall Street digested a sweeping executive order by former President Donald Trump, who announced tariffs targeting 14 countries, while simultaneously offering a deadline extension to August 1 for potential negotiations.
The move signals a renewed phase of Trump's “Reciprocal Trade Act” initiative, which aims to balance U.S. trade deficits by penalizing foreign nations that allegedly benefit disproportionately from American import markets.
🌍 Tariff Targets: Which Countries Are Affected?
The 14 nations named in Trump’s tariff order include:
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Bangladesh
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Bosnia and Herzegovina
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Cambodia
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Indonesia
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Japan
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Laos
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Malaysia
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Myanmar
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Serbia
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South Africa
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South Korea
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Thailand
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Tunisia
Though these countries are officially on the list, Trump emphasized that the tariffs are “not 100% firm” and negotiations remain open. This has somewhat calmed investor panic over a potential escalation in the global trade war.
“We are open to deals. This is a step to protect American workers and industry,” Trump said from Mar-a-Lago.
🧾 U.S. Market Reaction
Markets responded with caution. As of 9:39 a.m. ET:
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Dow Jones Industrial Average: ↓ 0.16% or 70.37 points to 44,335.99
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S&P 500: ↓ 0.02% or 1.32 points to 6,228.66
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Nasdaq Composite: ↑ 0.12% or 25.36 points to 20,437.88
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10-Year Treasury Yield: ↑ to 4.435%
“Tariff headlines are heating up again, but markets may remain resilient if there's faith in negotiations,” said Bret Kenwell, analyst at eToro U.S. “Any 5-10% pullback could present a buying opportunity.”
📉 Economic Impact of Tariffs
According to Paul Ashworth, Chief North America Economist at Capital Economics:
“If the tariffs are enacted without any preliminary trade agreements, the effective U.S. import tariff rate could rise from 15.5% to 17.3%, well above the historical average of 2.5%.”
However, the Republican-backed Megabill, passed last month, allows for recycling of tariff revenue into stimulus payments and manufacturing subsidies, potentially softening the blow to consumers and businesses.
🧭 Who’s Not on the Tariff List?
Interestingly, countries like:
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European Union
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India
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Taiwan
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Brazil
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Turkey
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Australia
were not included in this wave of tariff letters. Analysts believe these nations may be close to striking favorable trade agreements.
EU Commissioner Olof Gill confirmed that the bloc remains optimistic about reaching a deal before the July 9 deadline.
🪙 Cryptocurrency Developments
Meanwhile, former President Donald Trump’s political rival Elon Musk made headlines by reaffirming his new “America Party” will support Bitcoin adoption.
Separately:
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Real estate giant Murano Holdings, listed on Nasdaq, acquired 21 Bitcoin and signed a $500M equity agreement to expand its crypto holdings.
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Bitcoin rose 0.43% to $108,772.80 in early trading.
🏢 Corporate Highlights
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Amazon Prime Day began this week and will run four days for the first time ever (July 8–11). Amazon shares dipped despite expected record sales.
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Solar stocks took a hit after Trump’s executive order to accelerate the rollback of clean electricity tax credits.
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SunRun fell 9.41%
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First Solar dropped 4.12%
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Honeywell announced plans to explore strategic options for transportation and logistics divisions. Shares ticked up modestly on the news.
🔮 Looking Ahead
With the tariff deadline extended to August 1, global markets will closely monitor negotiations with the 14 impacted nations. The S&P 500 outlook remains cautiously optimistic, with Bank of America recently raising its year-end target to 6,300, citing “the resilience of Corporate America.”
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