Trump to announce new trade tariffs for "a minimum of seven countries"
In a post on Truth Social, the US President further stated that the names of additional countries will also be released by Wednesday afternoon.
"We will be releasing a minimum of 7 Countries having to do with trade tomorrow morning, with an additional number of Countries being released in the afternoon. Thank you for your attention to this matter! " Trump stated.
Earlier on Monday (local time), the US President shared letters sent by his administration to 14 countries, informing them of the reciprocal tariffs that will take effect from August 1.
He later also asserted that there will be no extensions to this deadline day and that "all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted."
Trump first shared the letters sent to Japan's Prime Minister Fumio Kishida and South Korea's President Yoon Suk-yeol.
Around two hours later, he announced that similar letters had been sent to Malaysia, Kazakhstan, South Africa, Myanmar, and Laos.
Later, he shared tariff letters sent to leaders of other countries, including Thailand, Bangladesh, Indonesia, Tunisia, Bosnia and Herzegovina, Serbia and Cambodia.
In the letters written to the South Korean President and the Japanese Prime Minister, Trump stated that Japan and South Korea will face a 25 per cent tariff from August 1.
Meanwhile, Thailand and Cambodia each will face a tariff of 36 per cent, while Bangladesh and Serbia will each be hit with a tariff of 35 per cent.
Trump also mentioned that Malaysia and Kazakhstan will each face 25 per cent tariffs, with Myanmar and Laos facing a 40 per cent tariff on their goods exported to the US.
Indonesia will face a tariff rate of 32 per cent, and imports from South Africa and Bosnia and Herzegovina will be subject to 30 per cent tariffs on August 1. According to his letters, Tunisia will face a tariff of 25 per cent.
When asked if he is firm on his August 1 deadline for US tariffs, Trump stated that he was "firm but not 100 per cent firm".
"I would say firm but not 100 per cent firm. If they call up and they say we would like to do something differently, we will be open to that," he stated.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
7 hours ago
- Observer
Oman oil price reaches $70.52 per barrelOman oil price reaches $70.52 per barrel
MUSCAT: The official price of Oman oil for September delivery on Wednesday reached $70.52. The price of Oman oil decreased by 18 cents compared to Tuesday's price of $70.70. The monthly average price of Omani crude oil for July delivery reached $63.62 per barrel, a decrease of $4.25 compared to the price for June delivery. Meanwhile, international oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement. Brent crude futures were down 50 cents, or 0.7%, at $68.05 a barrel as of 11:19 GMT. US West Texas Intermediate crude futures were down 47 cents, or 0.7%, at $64.78 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against US tariffs. US President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that included a 15% tariff on US imports from Japan. 'The slide (in prices) of the past three sessions appears to have abated but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment', said an analyst. — Agencies MUSCAT: The official price of Oman oil for September delivery on Wednesday reached $70.52. The price of Oman oil decreased by 18 cents compared to Tuesday's price of $70.70. The monthly average price of Omani crude oil for July delivery reached $63.62 per barrel, a decrease of $4.25 compared to the price for June delivery. Meanwhile, international oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a US tariff deal with Japan ahead of a US stocks data announcement. Brent crude futures were down 50 cents, or 0.7%, at $68.05 a barrel as of 11:19 GMT. US West Texas Intermediate crude futures were down 47 cents, or 0.7%, at $64.78 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against US tariffs. US President Donald Trump said on Tuesday that the US and Japan had struck a trade deal that included a 15% tariff on US imports from Japan. 'The slide (in prices) of the past three sessions appears to have abated but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment', said an analyst. — Agencies
Times of Oman
15 hours ago
- Times of Oman
Environment Authority participates in high-level political forum on sustainable development
New York: The Environment Authority on Wednesday took part in the "2025 High-level Political Forum on Sustainable Development" in New York. The forum was held in New York under the theme "Advancing sustainable, inclusive, science- and evidence-based solutions for the 2030 Agenda and its SDGs for leaving no one behind". The Sultanate of Oman's delegation was led by Dr. Abdullah Ali Al Amri, Chairman of the Environment Authority, who heads the 7th session of the United Nations Environment Assembly (UNEA-7). The forum focused on practical, data-driven strategies to bridge implementation gaps, notably amid interconnected global crises, including climate change, inequality and economic instability. In a speech at the forum, Al Amri laid emphasis on the seventh session of the United Nations Environment Assembly (UNEA-7), scheduled to be held in Nairobi in December 2025. He said that the UNEA-7 constitutes a 'global opportunity to accelerate sustainable, knowledge-based solutions for a resilient planet." Al Amri underscored the need to devise environmental solutions with special focus on the interconnectedness that exists between environmental challenges and public health. He stressed the need to embrace an integrated approach—like "One Health" principle—to effectively address these challenges. He also underlined the importance of adopting a comprehensive approach to address environmental issues and espousing circular economy as a key factor to achieve sustainable production and consumption. In this context, he called upon countries to incorporate such solutions into their national policies. Al Amri highlighted the progress made in negotiations on the convention to control plastic pollution. He stressed the need to ratify international agreements to protect marine biodiversity beyond areas of national jurisdiction, in addition to cooperation between the United Nations Environment Assembly and parties tasked with multilateral environmental agreements to ensure effective environmental governance. The speech also undersored the urgent need to reform the global financial structure and provide sustainable and innovative financing mechanisms to support sustainable economic and environmental models. Al Amri pointed out that areas affected by wars and conflicts should be included in efforts to achieve the Sustainable Development Goals, as part of measures to support peace and environmental justice. At the conclusion of his speech, Al Amri underlined the importance of dialogue and understanding as the best means of achieving rapprochement at a time the international community is joining hands to ensure a sustainable future for all. On the sidelines of the forum, Al Amri conferred with the President of the United Nations General Assembly. The meeting touched on ways to enhance international environmental action and highlighted the Sultanate of Oman's role in advancing the global agenda on sustainability. Al Amri also held a meeting with the Hungarian Minister of Environment. The meeting discussed bilateral and regional cooperation in the field of environment and sustainable development. The two sides spoke about preparations for the forthcoming seventh session of the United Nations Environment Assembly. Acting in cooperation with Environment Society of Oman, the Environment Authority also participated in an event on the sidelines of the forum. The event was aimed to enhance the role of youth in climate action and marine environment protection, in line with the Sustainable Development Goals, including Goal 13 on climate action, Goal 14 on Life Below Water and Goal 17 on "Partnerships for the Goals".
Observer
16 hours ago
- Observer
Japan PM plans to resign after election debacle: local media
Tokyo - Having done a trade deal with US President Donald Trump, Japan's prime minister will soon announce his resignation, reports said Wednesday, after his latest election debacle left his coalition without a majority now in both houses of parliament. The reports said Shigeru Ishiba had conveyed his intention to step down to those close to him, following the announcement Wednesday of a US-Japan trade deal. Sunday's upper house election was calamitous for Ishiba's centre-right Liberal Democratic Party (LDP), which has governed almost continuously since 1955. Voters angry at inflation turned to other parties, notably the 'Japanese first' Sanseito, whose 'anti-globalist' drive echoes the agenda of populist movements elsewhere. Ishiba plans to vacate the top job by the end of August, the Mainichi daily reported. The Yomiuri newspaper reported that he would announce his resignation in July, but did not provide details on when he would leave office. These and other reports said calls for the 68-year-old to depart had grown louder within the LDP since the results of the upper house election. But he communicated his decision after striking a trade deal with Washington that cut a threatened 25-percent tariff to 15 percent ahead of an August 1 deadline. In the election on Sunday, the LDP and its junior partner Komeito fell three seats short of retaining a majority. It came only months after Ishiba's coalition was forced into a minority government in the more powerful lower house, in the LDP's worst result in 15 years. Ishiba won the party leadership in September, on his fifth try, to become the 10th LDP prime minister since 2000 -- all of them men. Since the October snap lower house election, the ruling coalition has been forced to bargain with opposition parties to pass legislation. After years of stagnant or falling prices, consumers in the world's fourth-largest economy have been squeezed by inflation since Russia's 2022 invasion of Ukraine. In particular, the price of rice has doubled, while resentment has also lingered over an LDP funding scandal. 'I hope things will get better in Japan, but the population is declining, and I think living in Japan will get tougher and tougher,' Naomi Omura, an 80-year-old from Hiroshima, told AFP in Tokyo on Wednesday. 'It is disappointing that Japan cannot act more strongly' towards the United States' but 'I think it was good that they agreed on a lower tariff', she said. Tetsuo Momiyama, an 81-year-old Tokyo resident, said Ishiba 'is finished already'. 'It's a good timing for him to go,' Momiyama said.
