Trump again extended the deadline for tariffs, but is ready for negotiations; Talks on trade deal with India continue
Trump: The 14 countries on which new tariffs have been announced include Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Myanmar, Serbia, Tunisia, South Africa, South Korea, Thailand.
US President Donald Trump has written letters to the leaders of 14 countries, including Japan and South Korea, announcing tariffs ranging from 25 percent to 40 percent. Notably, Trump has extended the deadline for implementing these tariffs to August 1. Previously, tariffs were announced to start on July 9, and Trump has also indicated he remains open to negotiations. In his letters, Trump discussed imposing a 25 percent tariff on major trade partners like Japan and South Korea.
The 14 countries affected by the new tariffs include Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Kazakhstan, Laos, Malaysia, Myanmar, Serbia, Tunisia, South Africa, South Korea, and Thailand. A 40 percent tariff has been imposed on Laos, 30 percent on South Africa, 36 percent on Thailand and Cambodia, 35 percent on Bangladesh, and 32 percent on Indonesia. Trump also warned that if these countries retaliate, he will impose import taxes on their goods as well.
Trump stated that the US has signed trade agreements with Britain and China and is close to signing one with India. Besides these, he expressed doubt about reaching agreements with other countries he has spoken to, which is why he sent them letters. Trump mentioned that exemptions might be granted to countries that offer us exemptions.
White House Press Secretary Caroline Levitt explained that tariff rates will be applied to entire imports, not just specific sectors. For example, Japan and South Korea export the most cars, car parts, pharmaceuticals, and machine tools to the US, but tariffs will also be applied to steel and other imports from these countries.
