Trump posts new tariff letters for seven more countries, including Indonesia, Bangladesh
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More news: Trump has posted new letters setting tariff rates for seven more countries as part of his paused April 2 tariff plan, with rates to take effect on 1 August. The latest letters were sent to Thailand (36%), Cambodia (36%), Serbia (35%), Bangladesh (35%), Indonesia (32%), Bosnia and Herzegovina (30%) and Tunisia (25%).
Several of these reflect reduced rates compared to those originally proposed in April, for example Cambodia and Bosnia lowered to 36% and 30% from 49% and 35%. That contrasted with the rate set for Tunisia, which increased slightly to 25% from 24%.
As with previous letters, the latest letters warn that retaliatory tariffs or transshipping will trigger a US response.
Malaysia, South Africa, Myanmar, Laos and Kazakhstan notified of new tariffs
More news: Trump has posted a new round of tariff letters on Truth Social, notifying five additional countries (Malaysia, Kazakhstan, South Africa, Laos and Myanmar) of the rates that will apply from 1 August.
The new rates differ slightly from those set on April 2: Malaysia’s rose from 24% to 25%, Kazakhstan’s dropped from 27% to 25%, South Africa’s remained at 30%, and both Laos and Myanmar were reduced to 40% from 48% and 44% respectively.
That came after White House Press Secretary Karoline Leavitt said 12 additional countries (on top of Japan and South Korea, which were the first announced) would receive letters on Monday (Tuesday AEST), and that the president will sign an executive order delaying the July 9 deadline to 1 August.
Meanwhile, Reuters reported the European Union would not be receiving a letter from the US today, citing unnamed EU sources.
Trump posts letters setting 25% tariffs for Japan, South Korea, warns against retaliation
The news: US President Donald Trump announced the US will impose 25% tariffs on all imports from Japan and South Korea starting 1 August.
In nearly identical letters posted to Trump’s social media site Truth Social, Trump cited “significant Trade Deficit[s]” with the countries and said the tariffs are “separate from all Sectoral Tariffs.”
Also included in the letters were warnings that any retaliatory tariffs would be matched on top of the 25% tariff rate, and that so-called tans-shipped goods would be penalised. He also said the rates could be adjusted “upward or downward, depending on our relationship.”
A day earlier, Trump had also threatened an additional 10% tariff on countries that align themselves with BRICS policies, after leaders at the summit warned that rising tariffs threatened global trade. Chinese, Russian and South African officials rejected Trump’s claim that BRICS policies are “anti-American.”
The context: After his 2 April announcement, Trump said he could strike 90 trade deals in 90 days. However, the administration has so far secured only limited agreements with the UK and Vietnam, with talks proving slower and more difficult than they anticipated.
At a press briefing, White House press secretary Karoline Leavitt said Trump would also sign an executive ode delaying the 9 July deadline to 1 of August. She said the president would post around a dozen notice letters to other countries on his social media site.
Meanwhile, speaking to CNBC, Treasury Secretary Scott Bessent said the administration would make “several” trade-related announcements in the coming 48 hours, hinting at possible bilateral trade agreements.
The numbers: Stocks fell on the announcement, with Toyota, Honda and SK Telecom down sharply, and US indexes also dropping.
The sources: Donald Tump posts, Bloomberg, Reuters
