US EditionTrump threatens more countries with tariffs as high as 30%
UNITED STATES, JUL 10 – President Trump set tariffs ranging from 20% to 30% on imports from seven countries to address trade imbalances and protect U.S. economic and national security interests.
- On Wednesday, President Donald Trump issued notifications of tariffs to seven smaller U.S. trading partners, imposing import taxes that could reach as high as 30%.
- These tariffs follow a 90-day negotiation period that ended July 9, extended until August 1, with Trump insisting no further extensions would be granted despite some ambiguity.
- Tariffs of 30% will be applied to goods coming into the U.S. from countries including Libya, Iraq, Algeria, and Sri Lanka; Brunei and Moldova will face 25% tariffs, while imports from the Philippines will be subject to a 20% tax, reflecting previous trade deficits with these nations.
- Trump announced that all payments relating to tariffs must be made by August 1, 2025, with no possibility of extensions, while trade officials push for modifications in government procurement policies and regulatory standards in the countries affected.
- The tariffs aim to reduce trade imbalances, encourage U.S. factory jobs, and assert U.S. financial power, though economists warn they may increase inflationary pressures and hinder growth.
294 Articles
294 Articles
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US slaps higher 20% tariff on Philippine goods
US President Donald Trump released a fresh set of letters to trading partners on Wednesday, setting out tariff rates for six countries as Washington pushes to bring about a flurry of trade deals officials have promised.
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