Trump Unveils New Tariff Demands, Targeting Eight Countries
US President Donald Trump has unveiled a new round of news demands, targeting several countries with increased levies. The announcement comes after notifying trading partners of new rates earlier this week.
Trump's latest move includes 30% tariffs on Algeria, Libya, Iraq, and Sri Lanka, 25% on Brunei and Moldova, and 20% on the Philippines. These rates are based on a formula considering common sense, deficits, past history, and raw numbers. Notably, only the Philippines ranks among America's top 50 trade partners in this list.
Among the targeted countries, Iraq and Sri Lanka saw adjustments from the initial rates announced in April. Trump has also threatened the European Union with unilateral tariffs and India with an additional 10% levy. The tariffs will be imposed in August on countries that fail to reach agreements with the US by the extended deadline of August 1, 2025. Trump plans further news letters, including one for Brazil, which is set to face a 50% import tariff due to political disputes and national security concerns.
The new round of news demands by President Trump is set to impact several countries, with varying rates and deadlines for negotiations. The US aims to address trade imbalances and secure favorable agreements with its trading partners.
