Trump threatens tariffs in 14 countries since August

President Donald Trump said he plans to impose a series of tariffs on goods entering the United States in 14 countries, including Japan and South Korea.

Trump’s latest escalation to global trade is as the 90-day pause of some of its most radical import taxes will expire.

The president announced a plan to impose a 25% tax on products entering the country from Japan and South Korea, and shared a batch of other letters to world leaders warning that taxes will begin on August 1.

Higher tariffs will take effect on July 9 and have been suspended previously White House officials said they will seek to reach a trade deal.

On Monday, Trump shared a letter from 14 national leaders on social media informing them of his latest tariff plan, while adding that rates could be modified to “up or down, depending on our relationship with your country.”

Most of the tariff rates outlined by Trump are roughly the same as those he proposed in April, When he issued the “Liberation Day” announcement, he threatened new taxes on goods from various countries.

The president believes that the introduction of tariffs will protect U.S. businesses from foreign competition and promote domestic manufacturing and job opportunities.

But economists say these measures will raise prices in the U.S. and lower trade. Three major U.S. stock indexes slipped on Monday, with Toyota listed stocks down 4%.

Japan sent more than $148 billion in goods to the United States last year, making it the fifth largest import supplier in the United States, behind only the European Union (EU), Mexico, China and Canada According to U.S. Trade Data. South Korea is also in the top ten.

In addition to South Korea and Japan, Trump proposed a plan on Monday to tariffs on Myanmar and Laos, 36% for goods on Thailand and Cambodia, 35% for goods in Serbia and Bangladesh, 32% for Indonesia, 32% for Indonesia, 30% for South African goods and 25% for quality and tips on Mary.

More letters may be available in the coming days, White House press secretary Karoline Leavitt said.

She made the suggestion that the July 9-August 1 tariff period could reduce the power of Trump’s threat.

“I can tell you that the president’s phone call has been asking him for a deal to the world leader,” she said.

When the president first announced a series of steep tariffs in April, turmoil broke out in financial markets, causing the president to suspend some of the highest duties to allow negotiations while maintaining a 10% tax.

Treasury Secretary Scott Bessent said he expects to be “busy for a few days.”

“We have a lot of people who have changed their adjustments in negotiations. So last night my mailbox was filled with a lot of new offers, a lot of new suggestions.”

Trump initially described his April tariffs as “reciprocity,” claiming they were asked to fight back with trade rules from other countries he believes are unfair to U.S. exports.

He announced tariffs in key sectors, such as steel and cars, cited national security issues and threatened to raise the imposition of other items, such as medicines and wood.

Multi-layered policies conduct complex trade negotiations, and in negotiations with Japan and South Korea, automobile tariffs are a key point.

So far, the United States has reached U.K. and Vietnamand some transactions with China. In these three cases, the agreement raised tariffs compared to the level before Trump returned to the White House, and Key issues remain unresolved.

The United States said it had reached an agreement with India.

The EU also participated in talks, with reports showing that officials in the group did not want to receive tariff letters. An EU spokesman also said that European Commission President Ursula Von der Leyen had “good communication” with Trump.

Just a few weeks ago, the U.S. president threatened the EU with a 50% tax unless a deal was reached.

Last week, Trump said Japan could face “30% or 35%” tariffs if the country did not reach an agreement with the United States before Wednesday.