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Trump Announces 30% Tariffs on Imports from Iraq, Algeria, and Libya

Taarek Refaat Former U.S. President Donald Trump has announced the imposition of new tariffs ranging from 25% to 30% on imports from multiple countries, including a 30% tariff on goods from Iraq, Algeria, and Libya, set to take effect on August 1, 2025. The announcement was made through official letters sent to the governments of the affected nations, according to a report by Economics Time. The new trade measure comes as part of Trump's continued push for what he calls a "fairer and stronger" trade balance for the United States, as he prepares for a possible return to the presidency. Targeted Tariffs Expand to 14 Countries The 30% tariffs will apply to all imported goods from Iraq, Algeria, and Libya. In addition, the United States will impose a 25% tariff on imports from Brunei, Moldova, and the Philippines. These new measures follow a July 7 statement in which Trump confirmed that the additional duties — first discussed earlier in the year — would be delayed until August to align with the finalization of multiple trade deals. 'The delayed tariffs will go into effect August 1, as we finalize historic trade agreements that prioritize American jobs and industries,' Trump said. This marks an escalation of his trade agenda, which mirrors policies from his previous term, targeting countries that, according to Trump, benefit from unbalanced trade dynamics or insufficient economic reciprocity. A Broader Trade Realignment In total, 14 countries received tariff notifications this month. The scope of tariffs ranges from 25% to 40%, with countries like Japan, South Korea, and Serbia also included in the new policy wave. While details about the specific goods affected have not been disclosed, trade analysts expect the tariffs to target sectors such as energy, textiles, and electronics, where U.S. manufacturers have expressed concerns about underpricing and trade imbalances. Early Reactions and Global Implications There has been no official response yet from Baghdad, Algiers, or Tripoli, though economic experts warn the decision could strain diplomatic relations and trigger retaliatory tariffs or realignment of import sources by affected nations. If Trump returns to office following the 2024 election, trade policy is expected to be a key pillar of his economic agenda, signaling a shift toward more protectionist measures in a bid to reinvigorate domestic manufacturing. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean