Trump has informed Japan, South Korea, Malaysia, South Africa, Kazakhstan, Laos, and Myanmar that they must meet new trade deal terms by August 1 or face tariffs of at least 25%. This ultimatum was conveyed in letters sent to the leaders of these nations and further highlighted via social media. The newly imposed rates replace previous high tariffs that had been put on hold earlier in the year to allow for negotiation time.
The administration's ambitious "90 deals in 90 days" strategy has seen limited success, prompting the president to consider an executive order to extend the pause on tariffs while unveiling these new rates. Japan and South Korea, major U.S. import sources, both face a particular challenge with 25% tariffs looming, while Myanmar, having a minimal share in U.S. imports, will see a staggering increase to 40%.
Trump's tariff threats extend beyond simple increases, warning that any retaliatory measures from the affected countries or attempts to circumvent U.S. duties through third countries could lead to further hikes. More announcements to other nations are expected to follow, elaborating on the administration’s trade approach laid out in past weeks, emphasizing an aggressive strategy in international trade negotiations moving forward.
The administration's ambitious "90 deals in 90 days" strategy has seen limited success, prompting the president to consider an executive order to extend the pause on tariffs while unveiling these new rates. Japan and South Korea, major U.S. import sources, both face a particular challenge with 25% tariffs looming, while Myanmar, having a minimal share in U.S. imports, will see a staggering increase to 40%.
Trump's tariff threats extend beyond simple increases, warning that any retaliatory measures from the affected countries or attempts to circumvent U.S. duties through third countries could lead to further hikes. More announcements to other nations are expected to follow, elaborating on the administration’s trade approach laid out in past weeks, emphasizing an aggressive strategy in international trade negotiations moving forward.
