The United States has delayed the implementation of its “Liberation Day” reciprocal tariffs until the 1st of next month, providing additional time for affected countries to finalise interim trade deals with the US. Initially announced by President Donald Trump on April 2, the tariffs were to target several nations, including India, but their enforcement was paused for 90 days, giving trading partners until July 9 to reach agreements.
The latest update, announced via Trump’s social media platform, outlines new tariff rates on 14 countries, which will come into effect on August 1. According to the announcement, the US will impose 25 percent tariffs on goods from Malaysia, Tunisia, and Kazakhstan; 30 percent tariffs on imports from South Africa and Bosnia and Herzegovina; 32 percent on Indonesian products; 35 percent on goods from Serbia and Bangladesh; 36 percent on imports from Cambodia and Thailand; and 40 percent on products from Laos and Myanmar. These are in addition to the previously announced 25 per cent tariffs on imports from Japan and South Korea.
In letters sent to the leaders of the affected countries, Mr Trump warned against retaliatory tariffs, stating that any such measures would prompt the US to further increase import duties. The tariff measures are part of President Trump’s ongoing push to correct trade imbalances and enforce what he describes as “more fair and balanced” trade relationships.
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