US President Donald Trump on Wednesday issued a new round of letters to several trading partners, outlining the tariff rates they will face as part of his push for a series of new trade deals.
The letters – sent to the leaders of the Philippines, Sri Lanka, Brunei, Algeria, Libya, Iraq, Moldova and Brazil – set tariffs between 20 per cent and 50 per cent, scheduled to take effect on August 1.
Much like the earlier batch of letters released on Monday, the latest duties are largely in line with the rates Trump initially threatened in April, though a few countries have been handed slightly reduced rates this time.
For now, 22 countries have received Trump's letters, including key US allies Japan and South Korea, as well as Indonesia, Bangladesh and Thailand. Below is the full list of countries and the tariffs imposed on them:
Analysts have noted that Asian countries are a major target of the documents so far.
But all eyes are on the state of negotiations with major partners who have yet to receive such communications, including the European Union.
For now, the Trump administration is under pressure to unveil more trade pacts. So far, Washington has only reached agreements with Britain and Vietnam, alongside a deal to lower tit-for-tat levies with China.
Trump on Tuesday said that his government was "probably two days off" from sending the EU a letter with an updated tariff rate for the bloc.
"They're very tough, but now they're being very nice to us," he added at a cabinet meeting.
An EU spokesman said Wednesday that the bloc wants to strike a deal with the United States "in the coming days," and has shown readiness to reach an agreement in principle.
EU diplomats say the European Commission, in charge of trade policy for the 27-country bloc, could continue talks until August 1.
The EU expects Trump to keep a 10 percent baseline tariff on its goods, with exemptions for critical sectors such as airplanes, spirits and cosmetics, diplomats told AFP this week.
Apart from tariffs targeting goods from different countries, Trump has also rolled out sector-specific duties on steel, aluminum and autos since returning to the White House in January.
On Tuesday, Trump said tariffs were incoming on copper and pharmaceuticals.
The planned rate for copper is 50 percent, he added, while pharmaceutical products face a levy as high as 200 percent -- but manufacturers would be given time to relocate operations.
Trump also said Tuesday that he would not extend an August 1 deadline for higher US tariffs to take effect on dozens of economies. He added that members of the emerging BRICS bloc of nations will face an added 10 percent tariff.
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