Trump threatens more than a dozen countries with new tariffs by Aug. 1

President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by Aug. 1, while also threatening to hit a dozen other nations with steep import duties by next month. 

Mr. Trump initially posted two nearly identical letters, addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung, on his Truth Social media platform outlining the new tariffs. A 90-day freeze on country-specific U.S. tariffs on dozens of nations, including Japan and South Korea, is scheduled to expire on July 9.

Mr. Trump on Monday afternoon also announced separate tariffs on an additional 12 trade partners. Myanmar and Laos face a 40% tariff rate, the highest of the new levies the U.S. is threatening to deploy. Thailand and Cambodia face potential tariffs of 36%, while Mr. Trump announced slightly lower tariffs of 35% on both Bangladesh and Serbia. 

Indonesia is the lone country facing a possible tariff rate of 32%. Imports from South Africa and Bosnia and Herzegovina will be subject to 30% duties as of August 1, while goods from Malaysia, Kazakhstan and Tunisia will be taxed at 25%, Mr. Trump said in letters posted on Truth Social. 

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