Trump Issues Tariff Letters To Seven Countries, Imposes 30% Duties

President Trump imposed tariffs on seven countries, including Algeria and Brunei.

US President Donald Trump.

Source : PTI

US President Donald Trump issued a round of tariff letters to six countries, including Algeria, Iraq, Libya, Sri Lanka, and the Philippines. According to news agency Reuters, the letters call for tariffs of 30% each on Algeria, Iraq, Libya, and Sri Lanka; 25% each on Brunei and Moldova; and 20% on the Philippines.

Announcing the statement, US President Donald Trump said that a minimum of seven countries had to do with trade.

“We will be releasing a minimum of 7 Countries having to do with trade, tomorrow morning, with an additional number of Countries being released in the afternoon. Thank you for your attention to this matter!"s.

Letters To 14 Countries By United States

The United States has already issued letters to the 14 countries—including Japan, South Korea, South Africa, Myanmar, Laos, Kazakhstan, and Malaysia—imposing new import duties ranging between 25% and 40%. Among the countries, Myanmar and Laos are facing the heaviest levies at 40%, while South Africa will be hit with a 30% tariff.

Other countries include Tunisia, Bangladesh, Indonesia, Cambodia, Bosnia & Herzegovina, Serbia, and Thailand—with tariff rates ranging from 25% to 36%.

According to France 24, the analysts have noted that Asian countries have been a key target so far. However, all eyes are on the state of negotiations with major partners who have yet to receive such letters, including the European Union.

The US president-led administration is under pressure to unveil more trade pacts. So far, Washington has only reached agreements with Britain and Vietnam, along with a deal to temporarily lower tit-for-tat levies with China.

On Tuesday, Trump said that his government was "probably two days off" from sending the EU a letter with an updated tariff rate for the bloc.

"They're very tough, but now they're being very nice to us," he added at a cabinet meeting.

On Wednesday, an EU spokesman said Wednesday that the bloc wants to strike a deal with the United States "in the coming days," and has shown that it is ready to reach an agreement in principle.