According to Odaily, U.S. President Donald Trump announced on July 9 via the social media platform 'Truth Social' that new tariffs will be imposed on eight countries. The affected nations include Brazil, the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka.
The tariffs will vary by country, with Brazil facing a 50% tariff. Libya, Iraq, Algeria, and Sri Lanka will see a 30% tariff, while Brunei and Moldova will be subject to a 25% tariff. The Philippines will have a 20% tariff imposed. These new rates are set to take effect on August 1.
This announcement is part of a broader initiative, as Trump has already sent tariff notifications to 22 countries.