WASHINGTON () More than a dozen countries face increased tariffs after President Donald Trump sent a series of letters warning rates could rise as high as 40% if no trade deals are reached by Aug. 1.
As of Tuesday, 14 countries were on the list, and the White House signaled more announcements and trade deals could be revealed later this week. The list includes several countries in Asia, as well as South Africa, Serbia and Tunisia.
The new tariff rates range from 25% to 40%.
Trump vows 25% tariffs on Japan, South Korea
In letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung, Trump wrote, “Please understand that the 25% number is far less than what is needed to eliminate the trade deficit disparity we have with your country.”
Ishiba on Tuesday called the move “truly regrettable” but said bilateral negotiations would continue in hopes of reaching a mutually beneficial deal, according to local reports.
Critics say tariff deadline change weakens Trump’s credibility
After initially announcing Trump’s “Liberation Day” tariffs on April 2 before implementing a 90-day pause, the administration now says Aug. 1 is the new deadline for trade agreements.
The administration said it aims to address what it describes as massive trade imbalances worldwide.
Trump noted Monday that the Aug. 1 deadline isn’t 100% firm if a country presents an alternative offer.
Some critics, including Sen. Ron Wyden, D-Ore., argue that constantly shifting deadlines make Trump’s threats less credible.
“Donald Trump has extended his tariff purgatory for another month, with more threats of trade taxes, more price-hiking tariffs and more uncertainty,” Wyden said in a statement. “The TACO negotiating tactic pioneered by Trump is making his threats less and less credible and reducing our trading partners’ willingness to even meet us halfway.”
Trade deals reached with UK, Vietnam
So far, Trump’s team has announced trade deals with the United Kingdom and Vietnam, along with a framework deal with China though those details remain limited.
Treasury Secretary Scott Bessent on Monday said more trade announcements could come soon, promising a “busy couple of days.”
