Trump Announces New Tariffs on Seven More Countries Starting August 1
Kathmandu, Jul 10: US President Donald Trump has announced that starting August 1, the United States will impose tariffs on goods from seven additional countries: Sri Lanka, Algeria, Iraq, Libya, the Philippines, Moldova, and Brunei.
According to the announcement, goods from Sri Lanka, Iraq, Algeria, and Libya will face a 30 percent tariff. Moldova and Brunei will be subject to 25 percent, while products from the Philippines will be taxed at 20 percent.
Trump has sent official letters to the leaders of these countries, stating that the tariffs are in response to duties these nations impose on US goods. He emphasized that if a country taxes the United States, the US will respond with equal or higher taxes.
He also noted that the decision could change depending on future relations between the US and the respective countries.
This comes shortly after a similar announcement targeting 14 other countries, including Bangladesh.
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