In three days, the US imposed tariffs on 21 countries. Up to 50% duty on Brazil. The list is long, from Japan and Korea to Iraq. Trump says, the tariff deadline will not be extended now.
US Tariff Attack: US President Donald Trump, adopting an aggressive stance on global trade once again, announced new tariffs on 21 countries in just three days. These tariffs range from 20% to 50%. Brazil has received the biggest blow in this list, with import duties of up to 50% being imposed.
The Tariff Spree Started on Monday
At the beginning of the week, the Trump administration sent tariff notices to 14 countries, including Japan and South Korea. This was followed by the announcement of tariffs on seven more countries on Wednesday. Trump shared information about these announcements on his social media platform, Truth Social.
Brazil Hit Hardest by Tariffs
Brazil tops the list of seven countries announced on Wednesday. Brazil, a member of the BRICS group, had already opposed the US tariff policy. Brazilian President Lula da Silva, some time ago, targeted Trump, saying that the world does not need any emperor. Following this, the Trump administration imposed tariffs of up to 50% on Brazil.
Six Other Countries Also Targeted
Besides Brazil, the Philippines, Brunei, Moldova, Algeria, Iraq, and Libya were sent tariff letters on Wednesday. Tariffs of 20% were imposed on the Philippines, 25% on Brunei and Moldova, while Algeria, Iraq, and Libya faced tariffs of 30%. These new rates will come into effect from August 1.
The 14 Countries That Received Tariff Notices on Monday:
- Japan – 25%
- South Korea – 25%
- Myanmar – 40%
- Laos – 40%
- South Africa – 30%
- Kazakhstan – 25%
- Malaysia – 25%
- Tunisia – 25%
- Indonesia – 32%
- Bosnia – 30%
- Bangladesh – 35%
- Serbia – 35%
- Cambodia – 36%
- Thailand – 36%
No Change in the Tariff Deadline Now
Donald Trump announced the implementation of "Reciprocal Tariff" on countries around the world on April 2. After initial turmoil, it was postponed for 90 days. Earlier, its deadline was July 9, which has now been extended to August 1. Trump has made it clear that there will be no change in this date now.
Uncertainty Still Looms Over India-US Trade Deal
While the US is imposing tariffs around the world, no final announcement has been made regarding the proposed trade agreement between India and the US. However, Trump has repeatedly claimed that a trade agreement with India will be reached soon.
According to him, India has agreed to open markets for American products in almost all sectors except agriculture and dairy. These are the same sectors that India has excluded in agreements with countries like the UK and Australia as well. India's concern is that American imports in these sectors could affect the rural economy.
