President Donald Trump on Wednesday sent letters dictating new U.S. tariff rates on at least seven more countries’ imports, leaning into his aggressive approach to resetting America’s global trade relationships. The latest letters, revealed by Trump via Truth Social screenshots, were sent to the leaders of the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka. Trump had teased the announcement Tuesday evening, writing on social media that he will release a “minimum of 7 Countries” on Wednesday morning and an “additional number of Countries” in the afternoon.
The new round comes two days after Trump first shared letters telling 14 countries’ leaders that their exports to the U.S. would face steep new tariffs starting Aug. 1. The nearly identical two-page letters signed by Trump on Monday were sent to Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, Myanmar, Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia and Thailand. The tariff rates for the 21 countries targeted so far range from 20% to 40%. The letters note that the U.S. will “perhaps” consider adjusting the new tariff levels, “depending on our relationship with your Country.”
Source: CNBC
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