Trump expands tariff list to eight nations
(MENAFN) U.S. President Donald Trump has announced that new import tariffs ranging from 20% to 50% will take effect on goods from eight additional countries starting August 1.
According to statements made on Wednesday, Trump notified leaders of the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, Sri Lanka, and Brazil that their exports to the U.S. will soon face substantial duties. The announcements were first made via Trump’s social media platform, Truth Social.
The breakdown of the new tariff rates is as follows:
- 30% tariffs on imports from Libya, Iraq, Algeria, and Sri Lanka
- 25% tariffs on Brunei and Moldova
- 20% tariffs on the Philippines
Later in the day, Trump added Brazil to the list, stating that goods from the South American country will face a 50% tariff. In his letter to Brazilian President Luiz Inácio Lula da Silva, Trump justified the move by citing what he described as Brazil’s “insidious attacks on Free Elections” and on “the fundamental Free Speech Rights of Americans.”
In response, Lula warned that Brazil would retaliate based on its economic reciprocity law. On the same day, Brazilian Vice President Geraldo Alckmin criticized the decision, calling the new 50% tariffs “unjust.”
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