Trump drops massive tariff list: After Japan and South Korea, these nations face heat - is your country on it?

US President Donald Trump on Monday targeted a number of Asian and African countries, including Japan, South Korea, and Malaysia after placing tariffs ranging from 25 per cent to 40 per cent on goods imported from the nations concerned. Trump imposed a 25 per cent tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial US allies in Asia. Similar tariffs were slapped on Malaysia, Myanmar, Laos, Kazakhstan and South Africa.

Myanmar and Laos have received 40 per cent tariffs, Kazakhstan and Malaysia were slapped with 25 per cent taxes. President Trump said that the US will impose 30 per cent tariff on South Africa.

Tariffs to Start on August 1


President Trump provided notice of the tariffs to begin on August 1 by posting letters on Truth Social that were addressed to the leaders of both countries. The letters warned both countries to not retaliate by increasing their own import taxes, or else the Trump administration would further increase tariffs.

The letters were not the final word from Trump on tariffs, so much as another episode in a global economic drama in which the US president has placed himself at the centre.

His moves have raised fears that economic growth will slow to a muddle, if not make the US and other nations more vulnerable to a recession. But Trump is confident that tariffs are necessary to bring back domestic manufacturing and fund the tax cuts he signed into law last Friday.

Full List of Countries on US Tariffs

Trump's team promised 90 deals in 90 days, but his negotiations so far have produced only two trade frameworks.

His trade framework with Vietnam was clearly designed to box out China from routing its America-bound goods through that country, by doubling the 20 per cent tariff charged on Vietnamese imports on anything traded transnationally.

Trump has also said on social media that countries aligned with the policy goals of BRICS, an organisation composed of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates, would face additional tariffs of 10 per cent.

FAQs

Q1. Who is President of USA?
A1. President of USA is Donald Trump.

Q2. When will Donald Trump trade tariffs start?
A2. Donald Trump trade tariffs is likely to begin on August 1.