President Donald Trump on Monday unveiled a sweeping new round of tariffs targeting 14 countries, with the steepest rates—40%—levied on Myanmar and the Lao People’s Democratic Republic. The tariffs, outlined in formal letters to foreign leaders and posted on Trump’s Truth Social account, will go into effect on August 1.
“If for any reason you decide to raise your tariffs, then whatever the number you choose to raise them by will be added onto the tariffs that we charge,” Trump warned in the letters, signaling his intent to escalate if retaliatory measures are taken.
Calling the tariffs “necessary to correct years of unfair trade,” Trump argued that persistent deficits with foreign nations pose a threat to both the U.S. economy and national security.
Japan, South Korea Hit First
Japan and South Korea were the first to be named in the announcement, each hit with a 25% tariff. When asked why those nations were singled out initially, White House Press Secretary Karoline Leavitt responded, “That’s the president’s prerogative. Those are the countries he chose.”
Leavitt added that the administration is close to finalizing additional trade agreements, and Trump wants to ensure they are “the best deals possible.”
Full List of Tariff Rates by Country
Here are the 14 countries and the tariff rates imposed by the Trump administration:
- Myanmar – 40%
- Lao People’s Democratic Republic – 40%
- Thailand – 36%
- Cambodia – 36%
- Bangladesh – 35%
- Republic of Serbia – 35%
- Indonesia – 32%
- South Africa – 30%
- Bosnia and Herzegovina – 30%
- Japan – 25%
- South Korea – 25%
- Malaysia – 25%
- Kazakhstan – 25%
- Republic of Tunisia – 25%
Business Fallout and Global Reaction
The sweeping tariffs have added further uncertainty for businesses, global markets, and supply chains already reeling from previous rounds of trade restrictions. Analysts warn that the frequent tariff changes could disrupt production planning, employment, and inflation forecasts.
With just weeks before the new rates kick in, trading partners are now weighing whether to retaliate or seek negotiations before August 1.
