US President Donald Trump has sent letters to 14 countries, mainly in Asia, warning that steep new import tariffs will take effect on August 1 unless trade deals are reached.
This marks the second time Trump has imposed a tariff deadline, after previously delaying action by 90 days in April. The main targets are nations with large trade surpluses with the United States, including Japan ($68.5 billion in 2024), South Korea ($66 billion), Thailand ($45.6 billion) and Indonesia ($17.9 billion).
South Korea faces a 25% tariff hike on remaining exports but remains hopeful for a deal. After meeting US Secretary of State Marco Rubio, South Korea’s national security adviser Wi Sung-lac said both sides aim to reach an agreement before August 1.
Japan, a close US ally, is under pressure to allow more American rice and car imports. Facing a 25% tariff on cars and higher rates on other goods, Prime Minister Shigeru Ishiba described the move as “regrettable,” but insisted Japan must defend local interests ahead of elections.
Indonesia plans to boost agricultural and energy imports from the US to ease proposed 32% tariffs, including a deal to buy one million tons of American wheat annually over five years.
Cambodia, Myanmar, and Laos, all with close ties to China, face heavy levies with Cambodia’s rate lowered to 36%. Washington fears Chinese goods might be rerouted through these countries to bypass tariffs.
Thailand is facing a 36% tariff and is offering greater market access to US goods, more energy purchases, and potential Boeing aircraft orders to reduce its trade surplus. Malaysia, hit with a 25% tariff, continues negotiations seeking a balanced agreement.
Bangladesh, heavily reliant on textile exports, faces a 35% tariff. Dhaka hopes to finalise a deal soon, including Boeing plane purchases and higher imports of American wheat and cotton.
Other countries warned include Kazakhstan (25%), South Africa (30%), Tunisia (25%), Serbia (35%), and Bosnia (30%).
Trump has criticised these trade imbalances, pushing for what he describes as “fairer” trade with the United States.
