Source Credit : CNBC
At least 14 countries’ imports are set to face steep blanket tariffs starting Aug. 1, President Donald Trump revealed Monday.
The president, in a series of social media posts, shared screenshots of form letters dictating new tariff rates to the leaders of Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos and Myanmar.
Later in the day, he shared another set of seven letters, to the leaders of Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia and Thailand
Goods imported to the U.S. from Japan, South Korea, Malaysia, Kazakhstan and Tunisia are now set to face 25% tariffs, according to the letters Trump posted.
South African and Bosnian goods will be subject to a 30% U.S. tariff, and imports from Indonesia will be hit with a 32% excise duty.
Bangladesh and Serbia are both at 35%, while Cambodia and Thailand are set for 36% tariff rates, the president’s letters said.
Imports from Laos and Myanmar will face a 40% duty, according to the letters Trump posted on Truth Social showed.
The letters Trump signed add that the U.S. will “perhaps” consider adjusting the new tariff levels, “depending on our relationship with your Country.”
The letters are the first to be sent before Wednesday, the day his so-called reciprocal tariffs on dozens of countries were scheduled to snap back to the higher levels he had announced in early April.
White House press secretary Karoline Leavitt said even more letters will be sent out in the coming days.
Later Monday afternoon, Trump signed an executive order delaying the Wednesday tariff deadline until Aug. 1. The order says Trump made that decision “based on additional information and recommendations from various senior officials.”
