President Donald Trump on Wednesday announced a new round of tariffs targeting six additional trading partners.
Beginning Aug. 1, the U.S. will impose a 30% tariff on Algeria, Libya, and Iraq, a 25% rate on Brunei and Moldova, and 20% on the Philippines, Trump revealed on his Truth Social platform. The announcement follows the president’s Monday announcement that Japan and South Korea would face 25% levies.
“If you wish to open your heretofore closed Trading Markets to the United States, and eliminate your Tariff, and Non-tariff, Policies, and Trade Barriers, we will, perhaps, consider an adjustment to the letter. These Tariffs may be modified, upward or downward, depending on our relationship with your Country,” Trump wrote in nearly identical letters to the leaders of the six nations.
The Trump administration had warned it would slap steep new tariffs on countries that fail to negotiate a trade deal with the U.S. by the July 9 deadline, but has since extended the deadline to Aug. 1.
Since taking office in January, the Trump administration has adopted an aggressive approach to what it considers unfair trade practices that undermine the American economy. On April 2, Trump rolled out sweeping “Liberation Day” tariffs on nearly every other country on the planet, but later announced a 90-day pause on April 9, which reduced most of them to a 10% baseline rate.
The tariff rates announced today for the six countries are similar to those initially unveiled in April.
Trump also warned on Sunday that any nation aligning with what he called the “anti-American” policies of the BRICS coalition — which includes China, Russia, and India — could face an additional 10% tariff.
Thus far, the Trump administration has secured trade deals with the U.K. and Vietnam, and a temporary agreement with China.
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Author: Melissa ORourke
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