President Trump followed up his announcement of 25% tariffs on Japan and South Korea Monday with a slew of other tariff letters. Trump announced tariffs on 12 more countries and White House press secretary Karoline Leavitt said the president plans to release more letters in the days to come, CNN reports. The new tariff rates, announced in near-identical letters:
- Myanmar, 40%.
- Laos, 40%.
- Cambodia, 36%.
- Thailand, 36%.
- Bangladesh, 35%.
- Serbia, 35%.
- Indonesia, 32%.
- Bosnia and Herzegovina, 30%.
- South Africa, 30%.
- Malaysia, 25%.
- Kazakhstan, 25%.
- Tunisia, 25%.
As in the letters to Japan and South Korea, Trump warned that if the countries decided to raise their own tariffs on imports for the US, the American tariff would be raised at a corresponding rate. The new tariffs are set to take effect on August 1. Trump's "reciprocal tariffs" had been set to take effect Wednesday but Leavitt said Monday that Trump plans to sign an executive order pushing the date back, the AP reports. She said Trump is creating " tailor-made trade plans for each and every country on this planet and that's what this administration continues to be focused on."
Former US trade negotiator Wendy Culter, vice president of the Asia Society Policy Institute, called the decision to slap steep import taxes on goods from Japan and South Korea "unfortunate." "The president is determined to light a fire under those trading partners who he thinks are not moving fast enough," Cutler said, per the Washington Post. "But to hit two of our closest allies with high tariffs—particularly when we have benefited from cooperation with them on semiconductors and energy and chip building, and when their companies invest a lot in the United States—it is hard for me to circle the square here."
This story has been updated with new developments.
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