President Trump announced a new 25 percent tariff on exports from South Korea and Japan, effective August 1. He also extended a pause on steeper tariffs against several other nations, which was originally set to take effect soon.
Following the announcement, markets experienced a decline, with investors perceiving the tariffs as excessively punitive toward two of the United States' largest trading partners.
In addition to the tariffs on South Korea and Japan, Trump detailed plans for increased tariffs on other countries, including 40 percent for Myanmar and Laos, 30 percent for South Africa, and 25 percent for Kazakhstan and Malaysia. The administration has been attempting to negotiate trade deals with over a dozen countries in the past 90 days, achieving preliminary agreements only with Britain and Vietnam thus far.
Negotiations with Japan and South Korea have been slower compared to other nations, primarily due to recent elections in both countries and ongoing tariff threats from the U.S. on key exports such as cars, steel, and electronics. There are concerns in Japan and South Korea about the potential for further tariffs if deals are made.
In Texas, severe flooding has resulted in at least 95 fatalities, marking it as one of the deadliest flooding disasters in the U.S. in the past century. Among the casualties, 27 young campers and staff members from Camp Mystic, an all-girls summer camp, were reported deceased.
As search operations continue with more rain forecasted, rescue efforts have been challenging. Notable rescues include a Coast Guard operation that saved 165 individuals at Camp Mystic and a young woman who was saved after clinging to a tree overnight.
Officials have faced scrutiny regarding the adequacy of warnings and evacuation procedures prior to the flooding. Senator Ted Cruz has stated there will be a thorough examination of the incident. The rapid rise of floodwaters transformed the Guadalupe River into a powerful force in less than 10 hours, with water flow surpassing that of Niagara Falls.
In international news, Israel and Hamas engaged in cease-fire talks for a second consecutive day, with discussions taking place in Doha, Qatar. While Prime Minister Benjamin Netanyahu was in Washington for talks with the Trump administration, both parties were negotiating the terms of a potential deal that would include the release of hostages.
Hamas has emphasized the importance of a comprehensive and lasting end to the conflict in any agreement reached. Netanyahu's meeting with President Trump was anticipated to influence the talks.
In Rio de Janeiro, the mayor is proposing regulations to bring order to the beach vendor scene, which could threaten the livelihoods of many vendors and alter the vibrant culture enjoyed by residents.
Additionally, misconceptions surrounding menopause have been highlighted by experts, addressing myths regarding symptoms and their implications for women's health. Treatment is suggested to mitigate risks associated with severe symptoms.
Recommendations for cooking, streaming, and gaming were also shared, alongside a reminder to engage in various word games for leisure.
Feedback and suggestions are welcomed.