 A man walks past a screen displaying US President Donald Trump, at the Bombay Stock Exchange (BSE) ahead of Trump's tariff plans, in Mumbai, India, April 2, 2025. (Photo: REUTERS/Francis Mascarenhas) |
The letters announce retaliatory tariffs of 50% on Brazil, 30% each on Algeria, Iraq, Libya and Sri Lanka, 25% each on Brunei and Moldova, and 20% on the Philippines.
Mr. Trump sent similar letters on Monday to 14 countries, including close allies Japan and South Korea, announcing tariffs ranging from 25% to 40%. The countries will have until August 1st to negotiate with the US before the tariffs take effect.
The Trump administration previously hoped to secure deals with 90 countries within 90 days, after announcing “retaliatory” tariffs on US trade partners in early April. It has so far secured an agreement with the UK, and trade frameworks with Vietnam and China.