Trump Announces Tariffs on Eight More Countries
(MENAFN) U.S. President Donald Trump escalated his trade agenda Wednesday by informing the leaders of eight additional countries that imports from their nations will face steep new tariffs—ranging from 20% to 50%—starting August 1.
Initial announcements were made via Truth Social, Trump’s proprietary social media platform, where he shared letters addressed to seven nations: the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka.
Details in the letters outlined the specific tariff rates: Libya, Iraq, Algeria, and Sri Lanka will face a 30% duty; Brunei and Moldova, 25%; and the Philippines, 20%.
Later in the day, Trump revealed a harsher penalty for Brazil. Goods imported from the South American country will be subject to a 50% tariff beginning the same date.
In his message to Brazilian President Luiz Inacio Lula da Silva, Trump wrote: "Due in part to Brazil's insidious attacks on Free Elections, and the fundamental Free Speech Rights of Americans ... we will charge Brazil a Tariff of 50% on any and all Brazilian products sent into the United States."
Reacting to the move, Lula issued a response on X, saying: "Any unilateral measure to raise tariffs will be responded to in light of Brazil's economic reciprocity law."
Brazilian Vice President Geraldo Alckmin called the decision unfair, stating Wednesday: "I see no reason to increase tariffs on Brazil. Brazil is not a problem for the United States; it is important to reiterate that. The United States has a trade deficit, but a surplus with Brazil."
This marks the second wave of tariff notifications this week. On Monday, Trump sent similar letters to 14 other nations, enacting duties between 25% and 40%.
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