US government has sent letters to 14 countries – especially Asians – to report on new tariff measures, which can reach 40% from August 1, if there is no agreement there
The president of the United States, Donald Trumphe announced on Monday (7) that he sent letters to 14 countries, mainly from Asia, to inform about the new rates that, in some cases, can reach 40%, from August 1, if an agreement is not reached until the date. List of the main affected countries and the reactions of their governments.
South Korea: Prudent Optimism
Already affected by tariffs on steel and cars, the South Korea It is threatened by a 25% increase over the rest of its exports, but continues with prudent optimism. “The United States agree (…) that still time before the tariffs are entry into force and we hope the two parties can reach an agreement,” Seoul said on Tuesday.
Japan: main source of foreign investment
Japan, close to Washington and the main source of foreign investment in the United States, has been affected by 25% rates applied to the auto industry. Now, the country can face “reciprocal” surcharge of 25% (against 24% before), far from the 35% initially threatened by Trump.
Indonesia: Increase American wheat imports
Threatened with 32%tariffs, Indonesia aims to increase agricultural and energy imports from the United States to complete an agreement, the Minister of Economy Minister Airlangga has recently told AFP. Jakarta announced on Monday that he signed an agreement to import at least one million tons of American wheat a year over the next five years.
Cambodia, Myanmar, Laos: Beijing Allies very affected
Donald Trump announced in April a 49% tariff on Cambodia products, one of the highest imposed. Monday’s letter reduces rates to 36% in this small country that has several Chinese ownership factories. Myanmar and laos, 40% Washington tariff targets, depend strongly on Chinese investments.
Thailand: purchases in the energy and aerospace sectors
Thailand, threatened with 36%tariffs, proposes to improve access to his market for US agricultural and industrial products, as well as boosting his purchases in the energy and aerospace sectors.
Malaysia: a “balanced” agreement
Malaysia, an economy divided between China and the United States, is threatened with a 25%rate. The country claimed to be “committed to continuing dialogue to achieve a balanced, mutually beneficial and global commercial agreement.”
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Bangladesh: threatened textile sector
Bangladesh, the second largest textile producer, is threatened with 35%tariffs. Daca expected to sign an agreement with the United States in early July.
Other threatened countries
Kazakhstan (25%tariffs), South Africa (30%), Tunisia (25%), Serbia (35%) and Bosnia (30%) are among the other recipients of letters released on Monday.
*With information from AFP
Source: Jovempan
I have been working as a journalist for over 10 years. In that time, I have covered the news from all corners of the world, and written about everything from politics to business.I’m now a full-time author, and my work can be found at Global happenings. My aim is to bring you up-to-date news and views on global affairs, in a format that is easy to read and understand.
