A new round of letters with the requirements of their duties presented today (9.7.2025) by US President Donald Trumpwith them hitting August in imported goods by partners who fail to agree with the US.
In particular, Trump said he would impose a 30% duties on Algeria, Libya and Iraq, 25% on Brunei and Moldova and 20% in the Philippines.
The duties were largely consistent with those initially announced by the US president in April, although Iraq’s duties declined from 39%, while the Philippines increased from 17%to 20%, according to Bloomberg.
Trump began alerting the trade partners to new duties on Monday (7.7.2025), in view of the deadline this week to complete negotiations with his government and posted on social media that he was planning to publish “at least 7” letters. Eventually, only six countries were posted on an initial storm on the Truth Social platform.
Of the six countries mentioned so far in Trump’s announcements, only the Philippines – who sent about $ 14.1 billion last year to products in the US – are among America’s 50 top traders. Products usually sold in US markets include electronic items, car spare parts and textiles. Imports from the other five states together amounted to less than $ 12 billion last year, with Iraq – crude oil exporter – representing more than half of that amount.
So far, the latest warnings have done a few things to shake markets, with traders focusing on the overall extension of the deadline for the so -called Mutual duties by Trump for August 1st. This essentially gave commercial partners an extension of conversations and initially fueled skepticism on Wall Street that it would follow its import taxes.
Trump added to this uncertainty earlier this week, claiming that he was not “100% stable” on this new deadline for talks. Since then he has tried to signal investors and commercial partners that he is determined to carry out his threats to duties, promising on Tuesday that “all money will be demanding and payable from August 1, 2025. No extensions will be granted”.
The president also uploaded the stakes for two main commercial partners, saying that the European Union could receive a unilateral tariff burden soon, despite progress in the negotiations, and promised to hit India with a 10% additional duty for its participation in the Bricks. in the world.
At the same time, it set the range of more specific duties for each industry, proposing a 50% percentage for copper products, which sent this metal to New York to climb up to 17% on Tuesday, record percentage in one day. He also proposed up to 200% duties on drug imports if pharmaceutical companies do not carry their production to the US next year.
The storm of letters and new duties threats marked the last turn on a dizzying commercial agenda that caused instability in the markets and left consumers, businesses and trade partners anxious for the impact on trade flows and world economy.
Trump initially announced the so -called mutual duties on April 2, but after the markets reacted with concern, he suspended the highest duties to 10% for a 90 -day negotiations, which was to expire today before the last three -week extension.
Trump’s letters on Monday targeted countries such as Japan, South Korea, South Africa, Indonesia, Thailand and Cambodia. Most of the duties rates, however, were largely according to what Trump had already announced that the nations were likely to face.
While Trump has advertised the letters of notification of his duties as agreements, even the real agreements he managed to conclude during the negotiating period with the United Kingdom and Vietnam were not complete at all, leaving many details unclear.
Trump also secured a truce with China to reduce duties and facilitate the flow of critical minerals.