US President Donald Trump announced a significant expansion of tariffs this week, initially targeting South Korea and Japan with a 25 per cent duty on imports. Within hours, Trump extended these new tariff hikes to twelve additional countries: Myanmar, Laos, South Africa, Kazakhstan, Malaysia, Tunisia, Indonesia, Bosnia and Herzegovina, Bangladesh, Serbia, Cambodia, and Thailand. Described by Trump as a broad effort to rectify ‘unfair trade imbalances,’ this move reflects his ongoing push to reduce America's trade deficit.

Communicated via letters to foreign leaders posted on Trump's Truth Social account, these new tariff rates are set to take effect on August 1. Trump warned. any retaliatory measures by these nations would result in further duty increases from Washington. He emphasized, while the United States remains open to trade, it demands ‘more fair and balanced’ terms. Notably, he offered an exemption for foreign manufacturers willing to shift their production to the US.

Trump asserted, these tariffs are crucial to correct years of ‘Tariff, and Non-Tariff, Policies and Trade Barriers’ that have led to what he deems unsustainable trade deficits, posing a threat to the US economy and national security. According to the Associated Press, trade tensions persist with the European Union and India, and more protracted negotiations are anticipated with China, whose imports are already subject to a 55 per cent tariff.

In his letters to Japan and Korea, Trump explicitly stated, starting on August 1, 2025, the US will charge Japan/Korea a Tariff of only 25 per cent on any and all Japanese products sent into the country, separate from all Sectoral Tariffs. Goods transshipped to evade a higher Tariff will be subject to that higher tariff.