U.S. President Donald Trump has delayed his so-called “reciprocal” tariffs once more, with the new deadline set for August 1. He has also sent out letters to 15 countries announcing that tariffs of up to 50 percent will hit them should they fail to reach a trade deal with the United States by the start of next month.
If new deals are not brokered, the White House has said Laos and Myanmar will face tariffs of 40 percent, while Cambodia and Thailand will face tariffs of 36 percent and Bangladesh and Serbia face 35 percent levies. Malaysia, Japan, South Korea, Kazakhstan and Tunisia would face comparatively lower tariffs at 25 percent. Of the 14 countries to have received one of Trump's tariff letters, two (Japan and Malaysia) saw increases of one percentage point, while four (Thailand, Indonesia, South Africa and South Korea) saw the same rate and the other eight nations saw decreases.
The Trump administration has said that more trade-related announcements would be coming shortly.
