Donald Trump slaps fresh tariffs on 14 nations, 40% on Myanmar and Laos | Full list
The tariffs were detailed in official letters shared by Donald Trump on his Truth Social account, with rates scheduled to take effect from August 1.
US President Donald Trump on Monday announced a fresh round of tariffs on 14 countries, with the highest rate of 40 per cent imposed on Myanmar and the Lao People’s Democratic Republic. The new trade measures will take effect from August 1.
The tariffs were outlined in official letters sent to the leaders of the countries and shared by Trump on his Truth Social platform. These letters are part of what he described as “a wave of letters” being issued to US trading partners.
In each letter, Trump warned against retaliatory measures, writing, “If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by will be added onto the tariffs that we charge.”
He also said the tariffs were “necessary to correct the many years of tariff and non-tariff policies and trade barriers” that had resulted in “unsustainable trade deficits against the United States.
“The deficit is a major threat to our economy and indeed our national security,” the US President added
As Trump’s push to reshape US trade policy continues to unfold, businesses, markets, and policymakers are facing growing uncertainty, with frequent changes to tariffs making it difficult to plan for production, inventory, hiring, and inflation.
Japan and South Korea were the first countries named in Trump’s latest tariff announcement, each facing a 25 per cent levy under the new trade measures.
White House press secretary Karoline Leavitt, when asked why President Donald Trump had chosen to target Japan and South Korea first, said it was “the president’s prerogative.”
“Those are the countries he chose,” she added.
She further added that the Trump administration is “close” to finalising agreements with several other trading partners and that Trump “wants to ensure these are the best deals possible.”
Here are the countries on which Donald Trump imposed tariffs
- Bangladesh: 35%
- Bosnia and Herzegovina: 30%
- Cambodia: 36%
- Indonesia: 32%
- Japan: 25%
- Kazakhstan: 25%
- Lao People's Democratic Republic: 40%
- Malaysia: 25%
- Myanmar: 40%
- Republic of Serbia: 35%
- Republic of Tunisia: 25%
- South Africa: 30%
- South Korea: 25%
- Thailand: 36%
