US President Donald Trump on Wednesday announced a fresh round of tariffs targeting seven countries — Sri Lanka, Algeria, Brunei, Iraq, Libya, Moldova and the Philippines.
Trump took to his social media platform, Truth Social, to share official tariff letters sent directly to the heads of state of these nations. The steepest tariffs, at 30%, have been levied on Iraq, Algeria and Libya.
These tariffs will come into effect from August 1. This move comes just a day after Trump unveiled a sweeping round of import tariffs of up to 40% on goods from 14 nations, including key trade players such as Bangladesh, Japan, and South Korea. The US President appears to be ramping up his tough-on-trade stance as part of his broader economic agenda.
Here’s the list of countries with new tariffs:
1. Sri Lanka: 30%
2. Iraq: 30%
3. Algeria: 30%
4. Libya: 30%
5. Philippines: 25%
6. Brunei: 25%
7. Moldova: 25%
More tariffs on the horizon
In a post on Truth Social, Trump wrote, “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!” — Signalling that even more tariff announcements are in the pipeline.
A day earlier, Trump had also revealed plans to impose a 10% tariff on imports from BRICS nations — Brazil, Russia, India, China, and South Africa.
Trump’s 90-day tariff pause comes to an end