US President Donald Trump on Wednesday sent letters to Algeria, Brunei, Iraq, Libya, Sri Lanka, Moldova and the Philippines regarding the new tariff rate. Donald Trump has announced to put 30 percent on Algeria, 25 percent on Brunei, 30 percent on Sri Lanka, 30 percent on Iraq, 30 percent on Libya, 20 percent on the Philippines and 25 percent on Moldova. All these countries will apply new tariff rates from August 1, 2025. Let us tell you that earlier Trump had announced 25 percent tariffs on Japan and South Korea on Monday.
Tariff letters have been sent to more than 14 countries this month
Trump also sent letters to Japan and South Africa regarding new tariff rates. In a post written on Donald Trump Truth, it was reported that these tariffs are being imposed due to continuous trade imbalance with Japan and South Korea. Trump has sent letters to a total of 14 countries this month regarding new tariff rates. Through these letters, Trump has imposed tariffs ranging from 20 percent to 40 percent on different countries.
Exemption will not be extended from 1 August
Donald Trump said in a public statement on 7 July that the high tariff rates announced in the last months would be implemented from August 1 without any delay, as the US is in the process of completing several trade agreements. Trump announced a new tariff rate for all countries after Trump became President. However, the President had banned 90 days in a few days. This 90 -day ban was ending today i.e. on July 9, but Trump made a new decision on 7 July and announced to extend the ban by 1 August.
Announcement of imposing 10% additional tariffs on all BRICS countries including India
In addition, Donald Trump said on Tuesday that 10 percent extra tariffs would be imposed on all BRICS countries including India. Trump accused BRICS countries of weakening the US dollar. Trump’s statement about India has come at a time when both countries have reached very close to the trade deal. Let us tell you that there are a total of 11 countries including India and China in the BRICS. The group includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, UAE, Ethiopia, Indonesia and Iran.
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