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Trump Slaps Tariffs On 12 New Nations – Bangladesh, Myanmar Hit Hard
Before announcing tariffs on 12 countries, Trump, on his Truth Social handle, shared the letters sent to Japan's Prime Minister Shigeru Ishiba and South Korea's President Lee Jae-myung.
Later, the US President also shared similar letters that were sent to Bangladesh, Myanmar, Malaysia, Kazakhstan, and Laos.
Trump's Tariff List
The letters sent to various global authorities mentioned the tariffs that would be imposed on the respective nations.
1- Thailand and Cambodia each will face a tariff of 36 percent.
2- 25 percent tariffs will be imposed on Malaysia and Kazakhstan.
3- Myanmar and Laos will have to pay a 40 percent tariff on their goods exported to America.
4- Indonesia will face a tariff rate of 32 percent.
5- Imports from South Africa, Bosnia and Herzegovina will be subject to 30 per cent tariffs.
6- According to the letters, Tunisia will face a tariff of 25 percent.
7- Lastly, Bangladesh and Serbia will each be hit with a tariff of 35 percent.
South Korea, Japan
As per the letters addressed to the South Korean President and the Japanese Prime Minister, Trump clarified that Japan and South Korea would face a 25 percent tariff from August 1.
In addition, the US President, in the letters, also threatened to increase the tariff rate by the same amount if the countries decided to raise their tariffs on imported American products. However, Trump has indicated his willingness to reduce the tariffs if these countries revise their trade policies.
Trump's Tariff Plan
Earlier, White House Press Secretary Karoline Leavitt, while addressing a press briefing on Monday (local time), announced that Trump will sign an executive order delaying his July 9 tariff deadline to August 1. According to ANI, she recalled how she had announced that the US President was going to create tailor-made trade plans for each nation and added that the Trump administration wants to have the best deals for the American people.
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