President Trump posted on social media, copies of the letters to South Korea and Japan about imposing 25% IEEPA reciprocal tariffs on imports starting August 1st.
The president also posted letters on social media regarding the reciprocal tariffs for the following nations, all with a start date of August 1st.
- 20%: Philippines
- 25%: Brunei, Moldova, Tunisia, Kazakhstan, Malaysia
- 30%: Libya, Sri Lanka, Algeria, Iraq, Bosnia and Herzegovina, South Africa
- 32%: Indonesia
- 35%: Serbia & Bangladesh
- 36%: Cambodia & Thailand
- 40%: Laos & Myanmar
- 50%: Brazil
An executive order was released on Monday evening to delay the tariff increase deadline by roughly three weeks to August 1st. The 90-day negotiating period on trade was set to expire on July 9, with tariffs potentially increasing from a baseline 10% rate to higher levels announced on April 2nd. The U.S. administration has recently announced trade deals with the U.K, China and Vietnam.
As more letters are sent to additional countries and trade talks continue, uncertainty remains. We’re closely monitoring the situation and will share further details when an executive order is published, and official guidance is released by U.S. Customs and Border Protection (CBP).
Whether you need guidance on tariff impacts, alternative routing, or any other logistics questions, our team is ready to support you. Please reach out to your Mallory Alexander representative or our M-PACT consulting team with any additional questions.