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Trump Announces New Tariffs on 14 Countries, Effective August 1
Trump Announces New Tariffs on 14 Countries, Effective August 1
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BTCCSquare news:
President Donald TRUMP has sent tariff letters to 14 nations, warning of new U.S. import duties set to take effect on August 1. The letters, shared directly on Truth Social, outline country-specific rates ranging from 25% to 40%, targeting Japan, South Korea, Malaysia, and others. Trump framed the move as a step toward "strong friendships," though the terms suggest a hardline trade stance.
The tariffs are designed to rebalance trade but remain "subject to adjustment" based on bilateral negotiations. Retaliation risks loom, as Trump explicitly warned against reciprocal tariff hikes. The steepest duties—40%—apply to Laos and Myanmar, while major economies like Japan and South Korea face 25% levies.
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