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%: Sri Lanka, Algeria, Iraq, and Libya, Bosnia and Herzegovina, South Africa
- 32%: Indonesia
- 35%: Serbia & Bangladesh
- 36%: Cambodia & Thailand
- 40%: Laos & Myanmar
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.