A look at the countries that received Trump's tariff letters
In the letters, which were posted on Truth Social, Trump warned countries that they would face even higher tariffs if they retaliated by increasing their own import taxes.
Here's a look at the countries that got tariff letters Monday:
Myanmar
Tariff rate: 40 per cent
Key exports to the U.S.: Clothing, leather goods, seafood
Laos
Tariff rate: 40 per cent
Key exports to the U.S.: Shoes with textile uppers, wood furniture, electronic components, optical fiber
Cambodia
Tariff rate: 36 per cent
Key exports to the U.S.: Textiles, clothing, shoes, bicycles
Thailand
Tariff rate: 36 per cent
Key exports to the U.S.: Computer parts, rubber products and gemstones
Response: Thailand's Deputy Prime Minister Pichai Chunhavajira said Thailand will continue to push for tariffs negotiations with the United States. Thailand on Sunday submitted a new proposal that includes opening the Thai market for more American agricultural and industrial products and increasing imports of energy and aircraft.
Bangladesh
Tariff rate: 35 per cent
Key export to the U.S.: Clothing
Response: Bangladesh's finance adviser Salehuddin Ahmed said Bangladesh hopes to negotiate for a better outcome. There are concerns that additional tariffs would make Bangladesh's garment exports less competitive with countries like Vietnam and India.
Serbia
Tariff rate: 35 per cent
Key exports to the U.S.: Software and IT services; car tires
Indonesia
Tariff rate: 32 per cent
Key exports to the U.S.: Palm oil, cocoa butter, semiconductors
Bosnia and Herzegovina
Tariff rate: 30 per cent
Key exports to the U.S.: Weapons and ammunition
South Africa
Tariff rate: 30 per cent
Key exports to the U.S.: Platinum, diamonds, vehicles and auto parts
Response: The office of South African President Cyril Ramaphosa said in a statement that the tariff rates announced by Trump mischaracterized the trade relationship with the U.S., but it would 'continue with its diplomatic efforts towards a more balanced and mutually beneficial trade relationship with the United States' after having proposed a trade framework on May 20.
Japan
Tariff rate: 25 per cent
Key exports to the U.S.: Autos, auto parts, electronics
Response: Japanese Prime Minister Shigeru Ishiba called the tariff 'extremely regrettable' but said he was determined to continue negotiating. Ishiba said Trump's tariff rate is lower than the levels he had threatened earlier and opens the way for further negotiations.
Kazakhstan
Tariff rate: 25 per cent
Key exports to the U.S.: Oil, uranium, ferroalloys and silver
Malaysia
Tariff rate: 25 per cent
Key exports to the U.S.: Electronics and electrical products
Response: Malaysia's government said it will pursue talks with the U.S. A cabinet meeting is scheduled for Wednesday.
South Korea
Tariff rate: 25 per cent
Key exports to the U.S.: Vehicles, machinery, electronics
Response: South Korea's Trade Ministry said early Tuesday that it will accelerate negotiations with the United States to achieve a deal before the 25% tax on its exports goes into effect.
Tunisia
Tariff rate: 25 per cent
Key exports to the U.S.: Animal and vegetable fats, clothing, fruit and nuts
The Associated Press
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
39 minutes ago
- Globe and Mail
3M boosts full-year profit forecast on smaller projected tariff hit
3M MMM-N on Friday raised its full-year profit forecast and projected a smaller tariff-related hit to its 2025 earnings, amid easing trade tensions between the U.S. and China, sending shares of the industrial giant up nearly 4% in premaket trading. The company now expects a full-year adjusted profit between $7.75 and $8 per share, compared with its previous estimate of $7.60 to $7.90. The forecast includes a net hit of 10 cents per share to its 2025 profit, compared with its earlier forecast of 20 cents to 40 cents. As some of the trade tensions show signs of easing, companies have begun to re-evaluate the potential financial fallout. Pharmaceutical major Johnson & Johnson has halved its projection for tariff-related costs to $200 million this year. China, which accounts for roughly 10% of 3M's global revenue, signed a comprehensive trade deal with the U.S. in June following months of trade tensions. Dividend-paying conglomerates with break-up potential that may reward investors Under the agreement, the U.S. has imposed a 10% baseline tariff on all Chinese imports, 20% on goods associated with President Donald Trump's accusation that China had not done enough to stem the flow of fentanyl, and kept the existing 25% tariffs from his first term. In April, 3M had estimated an $850 million potential annualized impact from tariffs before exemptions, with $675 million tied to U.S. and China tariffs. The Scotch tape maker reported second-quarter adjusted profit of $2.16 per share compared with Wall Street estimates of $2.01, according to data compiled by LSEG. Adjusted operating income margin in the quarter stood at 24.5%, up 290 basis points from a year earlier, as the company turned its focus away from legal liabilities and supply-chain issues, and toward developing new products. Total revenue for quarter came in at $6.16 billion. Analysts, on average, were expecting $6.11 billion in revenue.
CTV News
an hour ago
- CTV News
Trump's tariffs threaten to take the fizz out of Champagne's crucial U.S. market
Champagne is being poured "beer-like way," achieved by tilting the glass and gently sliding the Champagne down its inside wall into the flute (AP Photo/Jacques Brinon) VERZENAY — Champagne producers in northeastern France need to find new markets after U.S. President Donald Trump threatened 30 per cent tariffs on EU exports, the chairman of a French industry group said, suggesting Brazil, Southeast Asia and South Africa as options. The U.S. is the biggest market for champagne with 10 per cent of champagne exports by volume and 15 per cent by value and producers say the tariffs will push up prices for consumers and threaten jobs all along the supply chain, including in the United States. 'The repercussions for all family champagne exports will be severe because it will mean lost income from bottle sales, which will also affect the grape harvest quotas we will be allowed to collect,' said Stephane Vignon, whose family has been producing Champagne in Verzenay since 1946. With 70 per cent of champagne sales currently concentrated in just five countries, tariffs should push producers to seek new markets, said Maxime Toubart, chairman of industry group Comite Champagne (Champagne Committee). He said France's cognac industry, which is mainly reliant on exports to China and the U.S. where it could also face duties, provides a cautionary tale for champagne producers on the need to diversify. But replacing U.S. sales is not easy, he said. 'We can't just say we'll sell three million fewer bottles in the U.S. and put them in Japan instead. So actually, there is no alternative today to this fall in volume,' he said. Total champagne exports fell more than 10 per cent last year but rose slightly in the first four months of 2025 ahead of a 10% tariff in April, farm office France Agri Mer said. 'If tomorrow the 30% tariff is implemented, I think it will definitely impact the relationship,' said Hugo Drappier of the Drappier Champagne house. 'We've always managed to build a relationship of trust with our clients through the quality of our wines ... Let's hope that relationship isn't broken.' (Writing and additional reporting by Sybille de La Hamaide and Michaela Cabrera. Editing by Gabriel Stargardter and Sharon Singleton)
CTV News
3 hours ago
- CTV News
Canada eyes Mercosur trade pact to reduce U.S. reliance, minister says
Minister of International Trade Maninder Sidhu arrives for a caucus meeting Parliament Hill in Ottawa on Wednesday, June 11, 2025. THE CANADIAN PRESS/Sean Kilpatrick OTTAWA -- Canada's international trade minister said on Thursday that there was interest from both sides to advance trade talks with South American bloc Mercosur, as Ottawa seeks new deals in a push to diversify from the U.S. Prime Minister Mark Carney and his team have been locked in talks with U.S. President Donald Trump to hash out a trade deal by August 1, which could help reduce tariffs on Canada. But his government is also preparing to rely less on a relationship that generated bilateral trade of over $1 trillion (US$727.33 billion) last year and to focus on diversifying trade by signing free trade pacts globally. 'I had conversations with the foreign minister of Brazil, and there is appetite to carry out conversations around Mercosur,' Minister Maninder Sidhu said in an interview with Reuters. Brazilian President Luiz Inacio Lula da Silva had said in April that he was interested in advancing talks for a trade deal between South America's Mercosur bloc and Canada. Mercosur - which includes Brazil, Argentina, Paraguay and Uruguay - has had negotiation rounds for a trade deal with Canada in the past. Canada is also keen to continue talks with China to address trade challenges and views a thawing of relations between India and Canada as an important step to support trade, the Minister said. 'With China, there are opportunities, there are challenges,' he said, adding that the countries are holding frank discussions on a path forward on trade tariffs around exports of canola, beef, pet food and many other products. Canada has 15 free-trade deals covering 51 countries, giving it access to 1.5 billion consumers and Sidhu said that Ottawa will be pursuing more such deals in the coming months without giving a specific target. He had signed a free trade deal with Ecuador and an investment promotion pact with the UAE in his first two months in office and said discussions are on with the ASEAN countries and also individually with countries in the Indo-Pacific, including Indonesia and the Philippines. Over-exposure Sidhu said Canadian companies are over-exposed to the U.S. and they are not as competitive as they used to be due to Trump's tariffs. 'My job is to be out there opening doors,' he said, adding that he would seek to diversify not only trade but Canada's defense procurements from the U.S. Carney has promised to increase defense spending by an additional C$9 billion this year to meet NATO's target of spending 2% of GDP. 'We are working with the European Union and other partners around the world to help unlock some of those procurement opportunities in defense for our Canadian companies,' he said. Canadian exports to the U.S. dropped in May to 68% of total exports from a monthly average of 75% last year. The U.S. share in May was the lowest on record as companies pushed to diversify from the U.S. He did not respond directly on what a trade deal between Canada and the U.S. would look like, but said the government would 'work towards a deal that's best for Canadian businesses and Canadian workers.' Reporting by Promit Mukherjee; Editing by Caroline Stauffer, Rod Nickel and Saad Sayeed, Reuters
