Trump targets Sri Lanka, Philippines & 5 others in latest tariff wave
Starting August 1, Sri Lanka, Algeria, Iraq, and Libya will face a flat 30 per cent tariff on all exports to the US. Brunei and Moldova will be subject to a 25 per cent rate, while goods from the Philippines will be taxed at 20 per cent.
'Starting on August 1, 2025, we will charge Sri Lanka a tariff of only 30 per cent on any and all Sri Lankan products sent into the United States, separate from all sectoral tariffs. Goods transhipped to evade a higher tariff will be subject to that higher tariff,' President Trump wrote in his letter to Sri Lankan President Aruna Kumara Dissanayake.
President Trump has announced new tariffs on imports from seven additional countriesâ€'Sri Lanka, Philippines, Brunei, Moldova, Algeria, Iraq, and Libyaâ€'ranging from 20 to 30 per cent, effective August 1, 2025. This move intensifies the US trade overhaul, with more countries expected to be named soon. High tariffs have already been imposed on nations like Indonesia and Cambodia.
Similar notices were addressed to the leaders of the rest of the nations as well.
President Trump has confirmed more announcements are expected on Wednesday. "We will be releasing a minimum of 7 countries having to do with trade, tomorrow morning, with an additional number of countries being released in the afternoon," he stated in a Truth Social post on Tuesday.
Tariffs already declared in previous rounds include 25 per cent duties on imports from Japan, South Korea, Kazakhstan, Malaysia, and Tunisia. South Africa and Bosnia and Herzegovina are facing 30 per cent tariffs, while Indonesia has been hit with a 32 per cent rate. A 35 per cent tariff has been imposed on goods from Bangladesh and Serbia. Thailand and Cambodia are subject to a 36 per cent levy, and the highest rate so far—40 per cent—applies to imports from Myanmar and Laos.
Thus far, only the UK, China, and Vietnam have secured finalised trade agreements with Washington.
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