Trump announces steep tariffs on 14 countries starting Aug. 1

At slightest 14 countries' imports are acceptable to look steep broad tariffs starting Aug. 1, President Donald Trump revealed Monday.

The president, successful a bid of societal media posts, shared screenshots of signifier letters dictating caller tariff rates to the leaders of Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos and Myanmar.

Later successful the day, helium shared different acceptable of 7 letters, to the leaders of Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia and Thailand.

Goods imported to the U.S. from Japan, South Korea, Malaysia, Kazakhstan and Tunisia are present acceptable to look 25% tariffs, according to the letters Trump posted.

South African and Bosnian goods volition beryllium taxable to a 30% U.S. tariff, and imports from Indonesia volition beryllium deed with a 32% excise duty.

Bangladesh and Serbia are some astatine 35%, portion Cambodia and Thailand are acceptable for 36% tariff rates, the president's letters said.

Imports from Laos and Myanmar volition look a 40% duty, according to the letters Trump posted connected Truth Social showed.

The letters Trump signed adhd that the U.S. volition "perhaps" see adjusting the caller tariff levels, "depending connected our narration with your Country."

The letters are the archetypal to beryllium sent earlier Wednesday, the time his alleged reciprocal tariffs connected dozens of countries were scheduled to drawback backmost to the higher levels helium had announced successful aboriginal April.

White House property caput Karoline Leavitt said adjacent much letters volition beryllium sent retired successful the coming days.

Later Monday afternoon, Trump signed an enforcement bid delaying the Wednesday tariff deadline until Aug. 1. The bid says Trump made that determination "based connected further accusation and recommendations from assorted elder officials."

U.S. fiscal markets closed down connected Monday. The Dow Jones Industrial Average fell 422.17 points, oregon 0.94%, to extremity the time astatine 44,406.36. The S&P 500 shed 0.79% to adjacent astatine 6,229.98, and the Nasdaq Composite dropped 0.92% and closed astatine 20,412.52.

For astir of the countries, the caller U.S. tariff rates hew reasonably intimately to what they had faced aft Trump announced his "liberation day" tariffs connected April 2.

For instance, nether those archetypal rates, U.S. imports from Japan were assigned a 24% tariff and South Korean imports faced a 25% duty.

Following a chaotic week of losses crossed planetary markets, however, Trump connected April 9 issued a 90-day pause, which lowered the assorted tariff rates to a level 10%. That intermission was acceptable to expire Wednesday, earlier Leavitt announced that Trump would widen it by much than 3 weeks.

All of the letters accidental that the broad tariff rates are abstracted from further sector-specific duties connected cardinal merchandise categories.

The letters besides say, "Goods transshipped to evade a higher Tariff volition beryllium taxable to that higher Tariff." Transshipping successful this lawsuit appears to notation to the signifier of transferring goods to an interim state anterior to their last shipment to the U.S., successful bid to skirt tariffs.

The signifier letters asseverate that the caller tariff rates are indispensable successful bid to close for persistent U.S. commercialized deficits with the 14 countries.

Trump, an avowed tariff instrumentality and a skeptic of escaped commercialized deals, regularly points to those deficits arsenic grounds that the U.S. is being taken vantage of by its commercialized partners. Experts person criticized the presumption that commercialized deficits are inherently atrocious and questioned whether the U.S. tin oregon should question to adjacent them.

Not each of the countries targeted Monday person ample commercialized surpluses with the U.S.

While the U.S. successful 2024 had a $68.5 cardinal goods shortage with Japan and a $66 cardinal goods shortage with South Korea, its shortage with Myanmar was $579.3 million, according to the Office of the United States Trade Representative.

The U.S. is simply a large purchaser of cars, machinery and electronics from Japan and South Korea. Kazakhstan exports crude lipid and metallic alloys to the U.S., Malaysia sells America physics components, and South Africa mostly sends precious metals. Key U.S. imports from Laos see optical fibers, glasses and clothing, portion Myanmar's largest exports class is mattresses and bedding.

Monday's letters preemptively pass the 14 countries not to respond to the caller U.S. tariffs by imposing retaliatory duties connected their ain imports of American goods.

"If for immoderate crushed you determine to rise your Tariffs, then, immoderate the fig you take to rise them by, volition beryllium added onto the 25% that we charge," the letters say.

If the countries "eliminate" their "Tariff, and Non Tariff, Policies and Trade Barriers," past the U.S. "will, perhaps, see an accommodation to this letter," according to the letters.

"These tariffs whitethorn beryllium modified, upward oregon downward, depending connected our narration with your Country," the letters say. "You volition ne'er beryllium disappointed with The United States of America."

After Trump imposed his three-month reciprocal tariff intermission successful April, his medication claimed that it could onslaught arsenic galore arsenic 90 deals successful 90 days.

But arsenic that intermission was acceptable to expire, the U.S. has announced lone wide frameworks with the United Kingdom and Vietnam, arsenic good arsenic a preliminary statement with China.

Trump said the Vietnam woody puts a 20% tariff connected the country's imports to the U.S. and a 40% "transshipping" duty, portion the U.S. would get tariff-free entree to Vietnam's markets.

Trump's reciprocal tariffs were struck down successful precocious May by a national territory court, which ruled that helium did not person the ineligible authorization to enforce the sweeping duties nether the emergency-powers instrumentality helium had cited astatine the time.

The Trump medication appealed to the national circuit, which allowed the tariffs to remain successful effect portion it reviews the little court's decision.

— CNBC's Nick Wells and Gabriel Cortes contributed to this report.