US President Donald Trump - Photo: REUTERS
As of 5:00 pm on July 7, US time (4:00 am on July 8, Vietnam time), US President Donald Trump has published a total of 14 letters to countries, announcing that significantly higher US import tariffs will take effect from August 1.
US imposes 25 to 40% taxes on 14 countries
The first two partners to be announced are Japan and South Korea. Goods exported from these two countries to the US will be subject to a 25% tariff.
Next,Mr. Trump announced that the US will impose 25% tariffs on Tunisia, Malaysia, and Kazakhstan; 30% on South Africa, Bosnia and Herzegovina; 35% on Serbia and Bangladesh; 36% on Cambodia and Thailand; and 40% on Laos and Myanmar.
According to Reuters, the new tax will take effect from August 1 and will not be cumulative with previously announced industry taxes, such as those on cars, steel and aluminum.
That means the import tax on cars from Japan will remain at 25%, not increasing to 50% with the new tax rate like some other items that have been subject to similar taxes from Mr. Trump.
List of new tariffs that the US imposed on 14 countries according to Mr. Trump's notification letter (red column), compared to the previously threatened levels - Photo: NEW YORK TIMES
According to CNN, in the letters, Mr. Trump expressed special concern about the trade deficit between the US and these countries. He noted that the tariffs were imposed in response to policies that he said were preventing US goods from being sold abroad.
President Trump also encouraged foreign leaders to move manufacturing to the US to avoid tariffs.
In all 14 letters, Mr. Trump threatens to raise tariffs even higher than the announced levels, if the country responds by imposing tariffs on American goods.
The door to negotiations remains open.
In April, Mr. Trump announced that he would impose reciprocal tariffs on hundreds of economies , but then postpone them for 90 days to allow for negotiations. Mr. Trump's July 7 move came just before the July 9 deadline, when the 90-day moratorium will end.
A few minutes ago, the White House issued an executive order, postponing the re-imposition of Trump's reciprocal tariffs until 0:01 on August 1.
Earlier that day, White House Press Secretary Karoline Leavitt announced that President Trump would sign an executive order to extend the deadline, citing "the best interests of the American people."
According to CNN, data from the US Department of Commerce shows that the country imported goods worth 465 billion USD from 14 countries that received letters on July 7.
Of which, Japan and South Korea - the 6th and 7th largest trading partners of the US - account for 60% of the total value with 280 billion USD of goods exported to the US in 2024.
The 25% tariffs Mr. Trump imposed on these two countries are equal to or higher than the tariffs he announced in April. At that time, Japan was announced to face a 24% tariff, while South Korea was told it would face a 25% tariff.
White House press secretary Karoline Leavitt holds up a letter announcing tariffs that President Donald Trump sent to South Korean President Lee Jae Myung on July 7 - Photo: REUTERS
The remaining countries are in many cases the top foreign suppliers to the US for a number of goods.
For example, South Africa — which is subject to a 30% tariff — accounts for about half of the platinum the US imports from abroad in 2024, and is the number one supplier of the commodity.
Malaysia, which is expected to face a 24% tariff (up from the 25% Trump announced in April), was the second-largest source of semiconductors to the US last year, with imports worth $18 billion.
Meanwhile, Bangladesh, Indonesia and Cambodia are leading manufacturing hubs for apparel and accessories.
In a letter to the Cambodian prime minister , Mr. Trump threatens a 36% tariff, 13 percentage points lower than the rate applied in April before being suspended.
Although Mr. Trump has repeatedly expressed concerns about trade with the European Union (EU), it seems that the bloc has not yet received his letter.
"We do not comment on letters we have not received," Olof Gill, a spokesperson for the European Commission, told reporters on the afternoon of July 7.
Meanwhile, Irish Foreign Affairs and Trade Minister Simon Harris stressed: "As I understand it, we can expect that there will now be an extension until August 1, to give the EU and the US more time to reach a mutually beneficial agreement in principle."
Source: https://tuoitre.vn/ong-trump-cong-bo-ap-taxe-tu-25-den-40-len-14-nuoc-tu-1-8-20250708045922135.htm
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