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The new round of letters brings the total number of countries targeted under the latest tariff push to 20.
US President Donald Trump (Reuters file photo)
US President Donald Trump announced a new wave of tariffs on several countries, intensifying his aggressive trade strategy aimed at forcing what he calls “fair and reciprocal” treatment for American goods. The latest round includes new duties on Sri Lanka, Algeria, Iraq and Libya- each set at 30 percent- as well as 25 percent tariffs on Brunei and Moldova and a 20 percent rate on the Philippines.
New Tariff Expansion Follows Earlier Notifications To 14 Countries
This announcement comes just days after Donald Trump sent tariff notifications to 14 other nations, informing their leaders of new trade penalties in response to persistent US trade deficits and what the administration calls unfair barriers to American exports. The new round of letters brings the total number of countries targeted under the latest tariff push to 21.
Follow LIVE Updates On Donald Trump’s Tariffs here
Donald Trump’s Implementation Deadline For Nations
Earlier, Donald Trump signed an executive action to delay the implementation of most of these tariffs, originally scheduled to take effect Wednesday, to August 1- excluding China, which remains under the original schedule. When asked if that deadline was firm, Donald Trump said, “I would say firm, but not 100% firm. If they call up and they say they would like to do something a different way, we’re going to be open to that.”
Tariffs Separate From Sectoral Duties, White House Said
The Donald Trump administration confirmed that the announced tariffs are separate from existing sector-specific duties, meaning they will not be added on top of rates such as the current 25 percent tariff on automobiles. Donald Trump also made clear in his letters that retaliatory tariffs by targeted countries would be met with further penalties.
Why Donald Trump Has Announced Tariffs?
The new measures are part of Donald Trump’s broader campaign to reset global trade dynamics in America’s favor. He has argued that countries with persistent trade surpluses are taking advantage of the United States and encouraged foreign companies to relocate manufacturing to the US to avoid the tariffs.
Among the countries notified earlier this week were Japan, South Korea, Malaysia, South Africa and several others some of whom received warnings of tariffs as high as 40 percent. While Tokyo and Seoul have expressed interest in further talks, the European Union has notably not received any formal communication, despite repeated tensions over trade policy.
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Washington D.C., United States of America (USA)
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