Former U.S. President Donald Trump has once again stirred international trade waters by threatening to impose high tariffs on imports from over a dozen countries—including U.S. allies—while hinting at flexibility regarding the August 1 deadline.
In a series of letters posted on Truth Social, Trump announced that countries like Japan, South Korea, Thailand, Indonesia, and Bangladesh could face duties ranging from 25% to 40%, reigniting fears of a global trade war.
“Firm, but not 100 percent firm,” Trump said when asked if the August deadline was final, during a dinner with Israeli Prime Minister Benjamin Netanyahu.
Although Trump had initially unveiled sweeping tariffs during an announcement in April—calling it “Liberation Day”—he suspended all duties above 10% for 90 days to stabilize the market. With that grace period expiring, he has reissued the threats.
Countries like Malaysia and Thailand have responded diplomatically, expressing hopes for new agreements. Meanwhile, Japan’s PM Shigeru Ishiba called the 25% tariff plan “genuinely regrettable.”
Despite only securing two trade deals so far, with Vietnam and Britain, Trump remains confident. Treasury Secretary Scott Bessent added that more trade announcements are expected within 48 hours.
Trump has also proposed an additional 10% tariff on nations aligning with BRICS, criticizing them for what he termed “anti-American policies.”
Global markets reacted negatively to the uncertainty, with major U.S. indexes like the S&P 500 and Nasdaq falling sharply on Monday. AFP
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