Trump announces tariffs on 7 countries beginning Aug. 1
US President Donald Trump announced Wednesday that Washington will impose tariffs of 20-30% on goods from seven countries set to start Aug.1, Anadolu Agency reports.
The Philippines will face 20% tariffs, Brunei and Moldova 25%, while Sri Lanka, Iraq, Algeria, and Libya will face 30% rates, according to letters Trump shared on Truth Social.
"We have decided to move forward with you, but only with more balanced, and fair, TRADE," Trump told the leaders of those countries in separate messages.
He said the levels are "far less than what is needed to eliminate the Trade Deficit disparity we have with your Country."
Trump warned that goods transshipped to evade higher tariffs would be subject to those higher rates. He cautioned the leaders that any tariff increases by their countries would be added to US rates.
The tariffs are "necessary to correct" many years of tariff, and non-tariff, policies and trade barriers, "causing these unsustainable Trade Deficits against the United States," Trump said in the letters.
The announcement follows Trump's warning that he would send letters outlining new tariff rates starting Monday.
He previously announced 25% tariffs on Japan and South Korea beginning Aug. 1.
Trump later announced tariffs on a dozen countries, including 25% for Malaysia, Kazakhstan and Tunisia; 30% on South Africa and Bosnia and Herzegovina, 32% on Indonesia, 35% on Serbia and Bangladesh, 36% on Cambodia and Thailand, and 40% on Laos and Myanmar.
An executive order signed Monday extended the implementation of reciprocal tariffs to Aug. 1.