US President Donald Trump has added six new countries to the list that will be subject to import tariffs. The total number of affected countries has reached 20.
New Countries on the Tariff List
Trump issued new letters warning of tariffs for the Philippines, Brunei, Moldova, Algeria, Iraq, and Libya. The announcements were made via screenshots posted on social media. Notably, just 48 hours prior, Trump also notified 14 other countries, including Japan and South Korea.
Trump's Commentary on Tariffs
All 20 letters state that new tariffs will commence on August 1. The letters indicate that export tariffs will range from 20% to 40%. Trump mentioned that these rates 'could be adjusted' if relations improve in the future.
Situation with the European Union
The European Union has yet to receive tariff notifications, though Trump previously promised them a response within days. Ursula von der Leyen, President of the European Commission, spoke about the EU's readiness for various scenarios and continued dedication to protecting its interests.
Trump's trade policy continues to evolve, and the new tariffs may have significant implications for both the US and global trade.
