US President Donald Trump shared screenshots of signed form letters announcing new tariff rates for imports from Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, and Myanmar, as well as additional countries including Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia, and Thailand. The tariffs range from 25% to 40%, with some countries facing even higher excise duties.
The letters state that the new tariff rates are necessary to correct persistent US trade deficits with the affected countries. Trump has repeatedly pointed to these deficits as evidence of unfair trade practices by his trading partners.
However, not all of the countries targeted have significant trade surpluses with the US. The tariffs will apply to a range of goods, including electronics, machinery, and precious metals.
The US has already imposed tariffs on dozens of countries under Trump’s “reciprocal” tariff program, which is set to snap back higher next week. However, Trump has delayed this deadline by over three weeks after signing an executive order. The new tariff rates will take effect on August 1.
The letters also warn the affected countries that retaliatory duties imposed in response to the US tariffs will be added on top of the existing 25% tariff rate. In return, the US may consider adjusting its tariff levels if the affected countries eliminate their trade barriers and policies.
The move comes amid a chaotic week for global markets, which have been reeling from Trump’s recent trade policies. The new tariffs are expected to further exacerbate tensions between the US and these countries.
Source: https://www.cnbc.com/2025/07/07/trump-tariffs-trade-letters-japan.html