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.
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