US President sent letters to South Africa, Kazakhstan, South Korea, Japan, Laos, Malaysia and Myanmar leaders
The President of the United States, (Republican Party), announced 20% to 40% rates on imports from 7 countries from August 1, 2025. The announcement was made on Monday (7.Jul.2025), through letters sent to country leaders, published on their profile on the social Truth.
Trump stated that any retaliation will result in additional overflows. Here are the countries and the announced rates:
“If for any reason you decide to increase your rates, then whatever number you choose to increase, it will be added to the 25% we charge”Trump said in the letters sent to the leaders of the countries.
The 25% rate for South Korea maintains the same initially announced by Trump on April 2, while Japan is 1 point higher than previously announced.
Japanese automotive companies listed in the US fell after the announcement. Toyota registered a 4.1% drop in the early afternoon and Honda had a reduction of 3.8%.
The US Treasury Secretary has indicated that more ads related to trade agreements will be made in the next 2 days.
A week after the April 2 announcement, Trump had limited all 10% rates until July 9 to allow negotiations. The deadline for commercial partners to submit proposals to the US would end on Wednesday (9.Jul), but the Republican decided to postpone him to August 1.
“We had a lot of people changing posture in terms of negotiations. So my entrance box was full last night with many new offers, many new proposals”declared Bessent about ongoing negotiations.
