On July 7, local time, U.S. President Donald Trump announced on social media that he had sent tariff letters to multiple countries. As of now, he has issued the latest tariff threats to 14 countries.
Among them, Japan, South Korea, Kazakhstan, Malaysia, and Tunisia face a 25% tariff rate; South Africa and Bosnia face a 30% tariff rate; Indonesia faces a 32% tariff rate; Bangladesh and Serbia face a 35% tariff rate; Thailand and Cambodia face a 36% tariff rate; and Laos and Myanmar face a 40% tariff rate. These tariffs will take effect on August 1.
Trump stated that these tariffs are separate from industry-specific tariffs, and any attempt to bypass them through third-country shipments will result in even higher tariffs. He further clarified that companies choosing to build factories or produce goods in the U.S. will not be subject to these tariffs. Additionally, if these countries decide to increase tariffs on U.S. goods, the U.S. will impose equivalent tariffs based on existing rates. Earlier, the White House indicated that Trump would sign an executive order to extend the tariff negotiation deadline to August 1.
The tariff increase may stem from discussions at the recent BRICS summit regarding global tariff rises. According to The Washington Post, on July 6, the 17th BRICS summit was held in Rio de Janeiro, Brazil, where a statement was issued that "indirectly criticized" the U.S. The statement expressed "serious concern" about rising tariffs, calling them "inconsistent with WTO rules." The statement also warned that these restrictions "could reduce global trade, disrupt global supply chains, and create uncertainty." Trump responded on his social media platform, stating: "Any country that aligns with BRICS' anti-American policies will face an additional 10% tariff. No exceptions."