US President Donald Trump has unveiled a sweeping list of new tariffs on 14 nations, escalating trade tensions ahead of an August 1 deadline, while keeping doors open for negotiations with key partners like India.
Washington | July 8, 2025:
US President Donald Trump has reignited global trade tensions by announcing fresh tariff hikes on 14 nations, including steep duties of up to 40% on Myanmar and Laos. The decision, described as the first in a wave of tariff letters, marks a significant escalation in Trump’s ongoing trade offensive, launched in April.
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Among the worst-hit countries are:
- Laos – 40%
- Myanmar – 40%
- Thailand – 36%
- Cambodia – 36%
- Bangladesh, Serbia – 35%
- Indonesia – 32%
- South Africa, Bosnia-Herzegovina – 30%
- Japan, South Korea, Kazakhstan, Tunisia, Malaysia – 25%
In letters released via his Truth Social platform, Trump emphasized that retaliatory tariffs by affected countries would be met with equal or greater countermeasures. “If you raise your tariffs, we’ll add that amount to our existing rate,” Trump warned, addressing countries like Japan and South Korea.
🕰️ Deadline Pressure & Diplomatic Flexibility
While the August 1 deadline for negotiating trade deals remains, Trump acknowledged that it was “not 100 per cent firm,” indicating room for further dialogue. “We’re not going to be unfair. Maybe adjust a little bit,” he said, suggesting flexibility for countries offering concessions.
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As of now, the US has finalized new trade agreements with only two countries — the United Kingdom and Vietnam. Negotiations with India are reportedly nearing completion.
📉 Global Market Repercussions
The announcement has sent shockwaves through financial markets already jittery from Trump’s earlier sector-specific tariffs on steel, aluminium, and automobiles. Notably, the newly announced duties won’t stack with previously declared sectoral tariffs, meaning, for example, that Japanese auto tariffs will stay at 25%, rather than rising to 50%.
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Trump’s latest move follows a strategy to rebalance global trade, which he claims has historically favoured foreign partners over American industries. Critics, however, warn of severe consequences for global supply chains, inflation, and diplomatic relations.
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