July 8, 2025, 10:00 AM (Updated July 8, 2025) | Translated by Lü Xuanhuai
US President Trump.
Trump imposes 25% tariffs on Japan and South Korea; Taiwan has not yet announced its decision.
On July 7, US President Trump announced a new round of import tariffs, with rates as high as 40%, to be imposed starting in August on 14 countries that have not reached trade agreements with the United States.
The first wave of tariffs will impose a 25% tariff on products exported to the United States from Japan and South Korea. Other countries such as Malaysia, Kazakhstan, Tunisia, South Africa, Bosnia, Indonesia, Bangladesh, Serbia, Cambodia, Thailand, Laos, and Myanmar will also face tariff rates ranging from 25% to 40%.
The first wave of tariffs will impose a 25% tariff on products exported to the United States from Japan and South Korea. Other countries such as Malaysia, Kazakhstan, Tunisia, South Africa, Bosnia, Indonesia, Bangladesh, Serbia, Cambodia, Thailand, Laos, and Myanmar will also face tariff rates ranging from 25% to 40%.
Trump also signed an executive order extending the tariff grace period, originally set to expire on July 9, to August 1, giving countries more room for negotiation. He emphasized that if any country chooses to impose retaliatory tariffs, the U.S. will impose equivalent tariffs. However, he also stated that countries willing to produce goods in the U.S. will be exempt from tariffs.
Treasury Secretary Bessant revealed that the United States will announce several major trade decisions within the next 48 hours. Framework agreements have already been reached with the UK and Vietnam, negotiations with China are ongoing, and India is considered a potential next country to reach an agreement. White House spokesman Levitt stated that the US is actively negotiating with various countries to secure the best possible terms.
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