With the deadline for the Liberation Day tariff postponement set to expire on July 9th, President Donald Trump has shifted gears, unveiling new tariffs on 14 countries, effective August 1st, unless new trade deals are reached before then.

The affected countries and their respective tariff rates are:

  • Japan 25%
  • South Korea 25%
  • Malaysia 25%
  • Kazakhstan 25%
  • Tunisia 25%
  • Bosnia 30%
  • South Africa 30%
  • Indonesia 32%
  • Bangladesh 35%
  • Serbia 35%
  • Thailand 36%
  • Cambodia 36%
  • Laos 40%
  • Myanmar 40%

When asked if the August 1st deadline was absolute, Trump replied, “I would say firm, but not 100% firm. If they call up and say we’d like to do something a different way, we’re going to be open to that.” He also noted that tariffs could be adjusted “upward or downward, depending on our relationship with your country.”

Interestingly, the European Union, initially set to face a 20% tariff, has been spared for now due to ongoing negotiations for a new trade deal with the US. Similarly, the UK, having secured the framework of a new trade deal in May, is not impacted by this announcement.

While the US administration has hinted that more countries could be added to the tariff list, uncertainty remains as the story continues to evolve. White House officials may issue additional letters in the coming days.

For further information on the above, or to discuss upcoming shipments, please do not hesitate to contact the Westbound team.

If you have any questions regarding the above, then Westbound are here to help. So, please do not hesitate to contact us.