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
Times of Oman
an hour ago
- Times of Oman
India to gain from FTA with UK, 99% Indian exports to benefit from zero duty
New Delhi: Two months after India and United Kingdom concluded Free Trade Agreement (FTA), the two countries are poised to sign the mutually beneficial landmark trade pact during Prime Minister Narendra Modi's visit to UK beginning on Wednesday. Ahead of PM Modi's visit, the Union Cabinet approved the FTA on Tuesday. The deal, called the Comprehensive Economic and Trade Agreement (CEPA), is set to be signed on Thursday in presence of PM Modi and British Prime Minister Keir Starmer. Commerce and Industry Minister Piyush Goyal will also be in London for the crucial trade deal. India and UK had announced the conclusion of agreement on May 6 and the full text of the deal was held back pending final legal review. The idea behind the trade deal is to eliminate or reduce tariffs on imports and exports between the two nations. This should make Indian products competitive in the UK and vice versa. Both nations desire to increase their trade to USD 120 billion by 2030. As announced earlier, India is set to benefit from the elimination or reduction of tariffs on about 99 per cent of its exports to the UK post the FTA. The FTA is expected to boost key sectors such as textiles, leather, footwear, sports goods and toys, marine products, gems and jewellery, engineering goods, auto parts and engines, and organic chemicals. "The FTA ensures comprehensive market access for goods, across all sectors, covering all of India's export interests. India will gain from tariff elimination on about 99% of the tariff lines covering almost 100% of the trade value offering huge opportunities for increase in the bilateral trade between India and the UK," Commerce and Industry Ministry had said in its release on May 6. . India, in turn, will reduce tariffs on 90 per cent of its imports from UK (tariff lines) in phases, with 64 per cent seeing an immediate cut. The British food and drinks sector will be among the immediate beneficiaries of the trade deal. Nearly 90 per cent of UK exports in this category are Scotch whisky, which currently faces a 150 per cent tariff. Under the new agreement, tariffs on whisky and gin will initially drop to 75 per cent, and further to 40 per cent over a period of ten years. The agreement also includes commitments on services, covering IT/ITeS, financial and professional services (including architecture and engineering), as well as educational services. It will simplify mobility for Indian professionals and provide a three-year exemption from social security contributions in the UK for temporary Indian workers and their employers. Social security contributions post FTA will be paid in India, rather than in both places. Automotive tariffs is set to be cut from over 100 per cent to 10 per cent under a tariff rate quota system. This could pose a significant challenge to the Indian automobile sector and run counter to the 'Make in India' initiative. The UK government announced on May 6, 2025 that the country had concluded a free trade agreement (FTA) with India describing it as a "huge economic win for the UK" and a "landmark trade deal". It emphasised the potential of the Indian market with its economy expected to be the third largest in the world by 2028. Some issues like details of auto quotas and carbon border taxes are still to be revealed. Politico earlier reported that the latter is being dealt with outside the trade deal in separate, ongoing negotiations. In addition, negotiations on a Bilateral Investment Treaty (BIT) are ongoing. In his departure statement, PM Modi said that India and UK share a Comprehensive Strategic Partnership that has witnessed significant progress in recent years. "Our collaboration spans a wide range of sectors, including trade, investment, technology, innovation, defence, education, research, sustainability, health and people-to-people ties," he said. PM Modi said that during his meeting with the UK Prime Minister, they will have the opportunity to further enhance our economic partnership, aimed at fostering prosperity, growth and jobs creation in both countries.
Times of Oman
3 hours ago
- Times of Oman
"Irrefutable evidence": Tulsi Gabbard says Obama directed false intel assessment to delegitimize Trump
Washington: Director of National Intelligence Tulsi Gabbard, along with White House Press Secretary Karoline Leavitt, revealed new details during a White House press briefing alleging the "gross politicisation and manipulation of intelligence by the Obama administration". "There is irrefutable evidence that details how President Obama and his national security team directed the creation of an intelligence community assessment that they knew was false," Gabbard said during the briefing. "They knew it would promote this contrived narrative... selling it to the American people as though it were true. It wasn't." Expanding on the nature of the documents, Gabbard added that all the materials reviewed "There was a gross politicization and manipulation of intelligence by the Obama administration intended to delegitimize President Trump even before he was inaugurated." She further stated, "Ultimately, they sought to usurp the will of the American people." She also confirmed that these documents have been referred, and will continue to be referred, to the Department of Justice and the FBI. "The evidence that we have found, and that we have released, directly point to President Obama leading the manufacturing of this intelligence assessment. There are multiple pieces of evidence and intelligence that confirm that fact," Gabbard said. Backing her statements, Tulsi Gabbard, the Director of National Intelligence, on Wednesday released a slew of documents that she said implicate members of the Obama administration for weaponising US intelligence, adding further weight to the claims presented during the press briefing. Gabbard said that Obama promoted lies that Russian President Vladimir Putin and the Russian government helped US President Donald Trump win the 2016 election. In a post on X, she said, "New evidence has emerged of the most egregious weaponization and politicization of intelligence in American history. Per President Donald Trump's directive, I have declassified a House Intelligence Committee oversight majority staff report that exposes how the Obama Administration manufactured the January 2017 Intelligence Community Assessment that they knew was false, promoting the LIE that Vladimir Putin and the Russian government helped President Trump win the 2016 election. In doing so, they conspired to subvert the will of the American people, working with their partners in the media to promote the lie, in order to undermine the legitimacy of President Trump, essentially enacting a years-long coup against him." Obama's office issued a rare statement in response: "Out of respect for the office of the presidency, our office does not normally dignify the constant nonsense and misinformation flowing out of this White House with a response. But these claims are outrageous enough to merit one," said spokesman Patrick Rodenbush. "These bizarre allegations are ridiculous and a weak attempt at distraction. Nothing in the document issued last week undercuts the widely accepted conclusion that Russia worked to influence the 2016 presidential election but did not successfully manipulate any votes. These findings were affirmed in a 2020 report by the bipartisan Senate Intelligence Committee, led by then-Chairman Marco Rubio." There's still no evidence the 2020 election was rigged. There's plenty of evidence that Trump tried to subvert the results. The inflation problem is not necessarily solved, especially if Trump's tariffs go into effect, CNN reported. We caught Hillary Clinton. We caught Barack Hussein Obama. They're the ones -- and then you have many, many people under them. (Former national security adviser) Susan Rice. They're all there. The names are all there. And I guess they figured they're going to put this in classified information and nobody will ever see it again, but it doesn't work that way.
Observer
11 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
