US President Donald Trump on July 7 said a trade deal with India is close as he announced tariffs for 14 other countries, most of them in Asia.
Trump imposed 25 percent tariffs on goods from Japan and South Korea, while 12 other nations received letters revealing the duties they will have to pay.
"...We are close to making a deal with India. We've made a deal with the United Kingdom. We've made a deal with China. Others we met with, and we don't think we're going to be able to make a deal, so we just send them a letter. We're sending out letters to various countries telling them how much tariffs they have to pay. Some will maybe adjust a little bit depending if they have a cause, we're not going to be unfair about it..."
Check all the latest updates on US-India trade deal
The US President shared the letters through his account on Truth Social, warning them not to retaliate by increasing their import taxes.
“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25 percent that we charge,” Trump wrote in the letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
Trump’s shift to tariff letters from trade deals may offer more time for India agreement
Trump’s letters revealed that goods from Myanmar and Laos will be taxed at a flat rate of 40 percent, while Cambodia and Thailand will see a rate of 36 percent.
Trump tariffs list
1) Japan 25%
2) South Korea 25%
3) South Africa 30%
4) Kazakhstan 25%
5) Malaysia 25%
6) Laos 40%
7) Myanmar 40%
8) Tunisia 25%
9) Bosnia and Herzegovina 30%
10) Indonesia 32%
11) Bangladesh 35%
12) Serbia 35%
13) Cambodia 36%
14) Thailand 36%
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