United States president Donald Trump, He announced on Wednesday a new round of tariff demand letters that will apply taxes in August on goods imported from members who do not reach agreements with the United States.
Trump announced that he would impose a 30% tariff to Algeria, Libya, Iraq and Sri Lanka, with 25% tariffs on Brunéi and Moldova’s products; 20% to the products of the Philippines; and 50% for Brazil. The taxes coincided largely with those Trump initially announced in April, although Iraq tariffs were reduced from 39% to 44% and those of 44% SRI Lanka.
Regarding Brazil, the president reiterated his support to the former Brazilian president Jair Bolsonaro. Besides, The US president has also been critical of BRICS countries, of which Brazil is an important member, but said that the 50% tariff will be independent of other sectorials.
Trump began notifyand published on social networks that he planned to publish “a minimum of seven” letters on Wednesday morning, and that additional rates would be published in the afternoon.
Of the seven countries mentioned in Trump’s announcements so far on Wednesday, only Philippines – who sent about US $ 14,100 million in products to the United States last year– It is among the 50 main commercial partners of the United States. The products that it usually sells in the US market includes electronic, auto parts and textile products.
Imports from the other five countries together amounted to less than US $ 12,000 million last year, of which Iraq “A crude oil exporter,” represented more than half of that sum.
Until now, the last warnings have done little to disturb the markets, with the operators focusing on Trump’s general extension of the deadline for the so -called reciprocal tariffs until August 1. ANDSo effectively gave commercial partners an extension for conversations and initially fed skepticism in Wall Street about whether it would fulfill their import taxes.
Trump aggravated uncertainty earlier this week by stating that “he was not completely safe” of the new deadline for negotiations. Since then, he has tried to demonstrate to investors and commercial partners their commitment to meet their tariff threats, promising on Tuesday that “all money must be paid as of August 1, 2025. I extensions will not be granted” for the specific levies of each country.
The president also increased bets for two key commercial partners, saying that the European Union could soon receive a unilateral tariff rate despite the progress in negotiationsand promising to hit India with an additional tax of 10% for its participation in the BRICS block of developing nations, what Trump says is threatening the status of the US dollar as the key currency of the world.
And raised the possibility of more specific tariffs for each industry, by proposing a 50% rate on copper products, What raised the price of metal to 17% in New York on Tuesday, a record increase in a single day. He also proposed tariffs of up to 200% about pharmaceutical imports if pharmaceutical companies do not transfer their production to the United States next year.
The flood of letters and new tariff threats marked the last turn on a vertiginous commercial agenda that has stimulated the volatility in the markets and has left consumers, Companies and commercial partners anxious for the impact on commercial flows and the global economy.
Trump initially announced the so -called reciprocal tariffs on April 2, but after the markets reacted with alarm, He suspended the highest to 10% tariffs for a 90 -day negotiation period that would end on Wednesday, July 9 before the last three weeks.
Trump’s letters on Monday went to countries such as Japan, South Korea, South Africa, Indonesia, Thailand and Cambodia. However, most tariffs coincided largely to what Trump had already announced that these countries would probably face.
While Trump has promoted his tariff notification letters as agreements, even the real agreements he has achieved during the negotiation period with the United Kingdom and Vietnam have been very unimportant, leaving many details without clarifying. Trump also achieved a truce with China to reduce tariffs and facilitate the flow of essential minerals for the earth.
