Trump reignites tariffs crusade with new hit list

President Donald Trump has announced plans to impose new tariff rates on imports from several countries starting on August 1.

He cites what he described as unfair trade practices and persistent trade imbalances for the action. The tariffs, ranging from 25% to 40%, were formally communicated through letters sent to the respective governments and publicly posted to Truth Social yesterday.

An executive order delays the effective date of the tariffs until the beginning of next month, providing a three-week window for potential negotiations or trade concessions. Below is a list of countries with their new tariff rates:

• 25%: Japan, South Korea, Malaysia, Kazakhstan and Tunisia;
• 30%: South Africa and Bosnia and Herzegovina;
• 32%: Indonesia;
• 35%: Bangladesh and Serbia;
• 36%: Cambodia and Thailand;
• 40%: Laos and Myanmar.

The White House emphasised that the action is designed to level the playing field for American manufacturers and reduce U.S. trade deficits. Administration officials made clear that if the targeted countries do not reach acceptable trade agreements with the United States before August 1, the tariffs will take full effect, and warned that any retaliatory tariffs would prompt the U.S. to impose higher duties in response.

In a press release, the National Marine Manufacturers Association (NMMA) said it will continue working with the administration, Congress and industry partners to ensure U.S. trade policy is targeted, balanced and aligned with the needs of American manufacturers.