Donald Trump has confirmed new tariffs for 12 countries, with letters set to be dispatched on Monday, July 7, 2025. These tariffs are part of his reciprocal tariff policy, aiming to match the tariffs other countries impose on US goods.
The affected countries will face tariffs ranging from 10% to 70%, with most taking effect on August 1, 2025. Trump has previously criticized trade partners like the European Union and Japan for their trade practices, which might be why they're likely on the list.
Some specific tariffs announced earlier include:
- *26% tariffs on India*, which came into effect on April 9, 2025
- *46% tariffs on Vietnam*
- *32% tariffs on Taiwan*
- *25% tariffs on South Korea*
- *24% tariffs on Japan*
- *20% tariffs on the European Union*
These tariffs have sparked concerns about their impact on global trade dynamics, with markets and policymakers closely monitoring the situation.