Trump Imposes New Tariffs

Former U.S. President Donald Trump announced new tariffs of 20–30% on imports from seven additional countries, effective August 1. The Philippines will face 20% duties, Brunei and Moldova 25%, while Sri Lanka, Iraq, Algeria, and Libya will see 30% rates, CE Report quotes Anadolu Agency

In letters posted on Truth Social, Trump said the tariffs aim to correct longstanding trade imbalances and warned that any retaliatory tariffs would be met with further U.S. increases. He also emphasized that attempts to bypass the tariffs through transshipment would be penalized.

This move follows earlier announcements of tariffs on Japan, South Korea, and a dozen other countries, with rates ranging from 25% to 40%.