Catenaa, Tuesday, July 08, 2025-President Donald Trump announced sweeping tariff hikes on imports from 14 countries Monday, reviving his hardline trade strategy and roiling global markets.
The new duties, set to take effect August 1, will range from 25% to 40% and target a mix of Asian, African, and Eastern European economies.
The list includes US trade partners such as Japan, South Korea, Malaysia, and Indonesia. Laos and Myanmar will face the highest tariffs at 40%, while South Africa and Bosnia will see 30%.
The tariffs were first scheduled to resume July 10 but were delayed by an executive order signed Monday afternoon.
Trump posted form letters addressed to each country’s leader on Truth Social, warning that US tariffs could be adjusted based on “relationships” and threatening retaliation if they impose countermeasures.
The White House said more letters are forthcoming and did not rule out further actions.
The president’s team claims the tariffs aim to address trade imbalances and discourage transshipping practices used to skirt US levies.
Markets reacted swiftly, with the Dow Jones dropping 422 points and the S&P 500 and Nasdaq both closing nearly 1% lower.
Trump’s trade team said the US is still seeking deals, but only frameworks with the UK, Vietnam, and China have been announced since April. A court challenge to the legality of the tariffs remains pending on appeal.
Despite global pushback, Trump doubled down on tariffs, framing them as a tool to restore “fair trade” and economic leverage.
