U.S. Announces Tariffs on 14 Countries Starting August

U.S. President Donald Trump announced that blanket tariffs on imports from at least 14 countries will be reinstated beginning August 1. The announcement came via a series of letters sent to the leaders of countries including Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, Myanmar, Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia, and Thailand.

Tariff rates vary by country, ranging from 25 per cent on goods from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia to as high as 40 per cent on imports from Laos and Myanmar. Some countries face intermediate rates: South Africa and Bosnia at 30 per cent, Indonesia at 32 per cent, Bangladesh and Serbia at 35 per cent, and Cambodia and Thailand at 36 per cent.

These tariffs follow a 90-day pause initiated in April after initial hikes led to significant market volatility. The pause was extended until August 1 by executive order signed by Trump, citing recommendations from senior officials.

The letters emphasize that tariffs are aimed at addressing persistent U.S. trade deficits with these countries and warn against retaliatory tariffs. They also note that goods transshipped to evade tariffs will face higher duties.

Despite the broad application, not all targeted countries have large trade surpluses with the U.S. For example, U.S. trade deficits vary widely, from $68.5 billion with Japan to $579 million with Myanmar.

The announcement comes amid ongoing tariff negotiations, and the U.S. is also pursuing trade deals with countries like Vietnam and the United Kingdom.