Trump announces tariffs for 14 nations, including allies Japan, South Korea – OXBIG NEWS NETWORK

Washington, DC [US], July 8 (ANI): US President Donald Trump on Monday (local time) shared letters sent by his administration to 14 countries, informing them of the reciprocal tariffs that will take effect from August 1.

Trump first shared the letters sent to Japan’s Prime Minister Shigeru Ishiba and South Korea’s President Lee Jae-myung. Around two hours later, he announced similar letters were sent to Malaysia, Kazakhstan, South Africa, Myanmar and Laos.

Later, he shared tariff letters sent to leaders of other countries, including Thailand, Bangladesh, Indonesia, Tunisia, Bosnia and Herzegovina, Serbia and Cambodia.

https://truthsocial.com/@realDonaldTrump/posts/114813842665448662

According to the letters, Thailand and Cambodia each will face a tariff of 36 per cent while and Bangladesh and Serbia will each be hit with a tariff of 35 per cent. In the letters, Trump mentioned that Malaysia and Kazakhstan will each face 25 per cent tariffs.

Myanmar and Laos will face a 40 per cent tariff on their goods exported to the US. Indonesia will face a tariff rate of 32 per cent. Imports from South Africa and Bosnia and Herzegovina will be subject to 30 per cent tariffs on August 1. According to the letters, Tunisia will face a tariff of 25 per cent.

https://truthsocial.com/@realDonaldTrump

In the letters written to the South Korean President and the Japanese Prime Minister, Trump stated that Japan and South Korea will face a 25 per cent tariff from August 1.

https://truthsocial.com/@realDonaldTrump

In the letters, Trump threatened to increase the tariff rate by the same amount if the countries decided to raise their tariffs on importing American products. However, the US President indicated his willingness to reduce these tariffs if these countries revised their trade policies.

Earlier, White House Press Secretary Karoline Leavitt announced that US President Donald Trump will sign an executive order delaying his July 9 tariff deadline to August 1.

While addressing a press briefing on Monday (local time), Leavitt stated that 12 other nations, in addition to South Korea and Japan, will receive letters and notifications regarding tariffs from Trump. She recalled how she had announced that Trump was going to create tailor-made trade plans for each nation. She stated that the Trump administration wants to have the best deals for the American people.

When asked why Trump decided to delay the tariffs originally scheduled to take effect on July 9 and whether other US trading partners will receive letters on tariffs apart from Japan and South Korea, Leavitt responded, “Yes, I can confirm. In fact, I have those letters… I have the signed letters that went out to both South Korea and Japan today. There will be approximately 12 other countries that will receive notifications and letters directly from the President of the United States. Weeks ago, I stood at this podium and I told all of you that the President was going to create tailor-made trade plans for each and every country on this planet.”

“The President will also sign an executive order today delaying the July 9th deadline to August 1st. So the reciprocal tariff rate or these new rates that will be provided in this correspondence to these foreign leaders will be going out the door within the next month or deals will be made and those countries continue to negotiate with the United States. We’ve seen a lot of positive developments in the right direction. But, the administration, the president and his trade team want to cut the best deals for the American people and the American worker. That’s what they’re focused on and in the effort of transparency, these letters will continue to be posted to Truth Social. So, you can enjoy them yourself,” she added.

The 90-day deadline Trump set for nations to make trade deals with the US or face higher tariffs is scheduled to end on July 9, CNN reported. On April 2, Trump unveiled new “reciprocal” tariff rates for key US trading partners, with some tariffs as high as 50 per cent.

Collectively, the tariffs were the highest the US has charged on foreign goods in over 100 years, CNN reported. After the tariffs took effect on April 9, they led to a sell-off on Wall Street, and the bond market rebelled, prompting Trump to announce a three-month pause to give nations more time to negotiate with the US. (ANI)

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