Dow falls 400 points to session low after Trump announces 25% tariff on Japan, Korea goods: Live updates

[nitpicked]

https://www.cnbc.com/2025/07/06/stock-market-today-live-updates.html

Stocks fell to their lows of the day Monday after President Donald Trump announced a 25% tariff on Japanese and Korean imports. The Dow Jones Industrial Average slipped 447 points, or 1%. The S&P 500 fell 0.8%, and the Nasdaq Composite lost 0.9%.
(snip)

In a pair of Truth Social posts, Trump said he sent letters to Korea and Japan notifying the countries of the levies. These tariffs will start Aug. 1, and will be added to any retaliatory tariffs from either nation.

These mark the first of several trade announcements Trump was expected to make. Treasury Secretary Scott Bessent said Monday on CNBC’s “Squawk Box” that there would be several trade announcements over the next 48 hours, adding that he expects “it’s going to be a busy couple of days.”
(snip)

[bucolic_frolic]

1. Who benefits from these tariffs? Have we identified any beneficiaries?

Political power? Is everyone else worse off?

[Nigrum Cattus]

5. Russia & N. Korea benefit

[Tom Rinaldo]

6. Upper bracket tax payers. Tariffs are a highly regressive form of taxation

Working people end up with a high added tax on most of their income, which they have to spend in order to survive. Income taxes are progressive. with the rich paying a significantly higher tax rate on their income than does the working or middle class. Tariffs shift the tax burden onto the less well off.

[allegorical oracle]

10. Keep hearing that the value of the dollar is sinking, too. So our buying power keeps

eroding as prices rise.

[yardwork]

7. Trump and his cronies gain from gaming the stock market.

[Kid Berwyn]

2. GOP conference call this morning...

"Get ready to buy!"

[W_HAMILTON]

3. People asked why the DJIA was going up again...

...and the real answer was because Trump switched his focus and was fucking up foreign policy rather than economic policy for a bit there.

It looks like he's back to fucking over our economy up with his tariff threats again, so might want to brace yourselves...

[newdeal2]

4. Great negotiations

Excellent deals to be made!

[Ping Tung]

8. Nothing that Trump says or does is about the subjects mentioned. It's always about Trump's nerd for attention.

Therese' nothing like a scary headline to get the media's focus.

[imanamerican63]

9. I thought he had a deal with Japan?

[sakabatou]

11. Recession here we come

[Greg_In_SF]

12. The market was already

down this morning before the Japan Korea announcement.

[Timewas]

13. Buy now

Then sell in a couple days when he drops the tariffs again.then we can do it again next week when he goes back to tariffs again and again and again

[nitpicked]

14. Up to 7 countries now

(snip)

Goods imported to the U.S. from Japan, South Korea, Malaysia and Kazakhstan are now set to face 25% tariffs, according to the letters Trump posted. South African goods will be subject to a 30% U.S. tariff, and imports from Laos and Myanmar will face a 40% duty, Trump’s Truth Social posts showed.
(snip)