President of the United States Donald Trump has announced the introduction of new import tariffs on goods from 15 countries, set to take effect on August 1, 2025. The maximum tariff rate will reach 40%, reports Baltimore Chronicle citing Truth Social.
According to the released documents, the new tariffs will apply to all goods from the listed countries without exception. In his official letters addressed to the leaders of the affected nations, Trump emphasized that the United States intends to maintain economic cooperation but under what he described as “more balanced and fair trading terms.”
The following tariff rates will be applied starting from August 1, 2025:
- 25% — Japan, South Korea, Kazakhstan, Malaysia, Tunisia;
- 30% — South Africa, Bosnia and Herzegovina;
- 32% — Indonesia;
- 35% — Bangladesh, Serbia;
- 36% — Thailand, Cambodia;
- 40% — Laos, Myanmar.
The letters also specify that companies from the affected nations can avoid the tariffs if they choose to establish production or manufacturing operations within the United States. Trump pledged that the U.S. administration would do everything possible to provide “fast, professional, and businesslike” approvals for such investments.
“If for any reason you decide to raise your own tariffs, any such increase will be added to our tariffs,” Trump stated. He further noted that the measures are intended to correct long-standing effects of foreign duties, non-tariff restrictions, and trade barriers, which have resulted in what he called unacceptable U.S. trade deficits.
Earlier we wrote that Donald Trump claims he is “helping Ukraine a lot”.