- विज्ञापन -
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.
Here are discounted Reciprocal Tariffs proposed by Donald Trump
Tariff of 36 percent on Thailand, Cambodia
According to the letters, Thailand and Cambodia each will face a tariff of 36 per cent while Bangladesh and Serbia will each be hit with a tariff of 35 percent. In the letters, Trump mentioned that Malaysia and Kazakhstan will each face 25 per cent tariffs.
40 percent Tariff dor Myanmar and Laos
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.
Tariff from August1
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.
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.
90-day deadline to end on July 9
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
