Trump announces customs tariff rates for 12 countries

US President Donald Trump announced the new tariff rates to be applied to Malaysia, Kazakhstan, Tunisia, South Africa, Bosnia and Herzegovina, Indonesia, Bangladesh, Serbia, Cambodia, Thailand, Laos, and Myanmar in a post on Truth Social. This announcement follows similar measures previously announced for Japan and South Korea.

In letters sent to the relevant countries, Trump notified them of the tariff rates that will take effect as of August 1. He also emphasized that "these rates will increase in the event of any retaliation." Noting in the letters that the rates could be re-evaluated depending on the course of relations, Trump stated, "These tariffs can be adjusted upward or downward depending on our relationship with your country."

According to the published letters, a customs tariff of 25 percent will be applied to Malaysia, Kazakhstan, and Tunisia; 30 percent to South Africa and Bosnia and Herzegovina; 32 percent to Indonesia; 35 percent to Bangladesh and Serbia; 36 percent to Cambodia and Thailand; and 40 percent to Laos and Myanmar.

Trump had also announced that an additional 25 percent non-sectoral tax on products from Japan and South Korea would begin on August 1.

The Presidential decree published on the official White House website referred to the April 2 statement in which Trump declared that the foreign trade deficit poses a threat to national security. In this context, it was recalled that the additional tariffs imposed on some countries had previously been reduced for 90 days. It was reported that this period, which was set to end on July 9, has been extended until August 1.

The decree stated that the May 12 regulation specific to China would remain in effect and that the necessary implementation details would be determined by the Department of Commerce, the Department of Homeland Security, and the Office of the United States Trade Representative.

"THESE RATES MAY BE FINAL BUT WE ARE OPEN TO NEGOTIATION"

Meeting with Israeli Prime Minister Benjamin Netanyahu at the White House, Trump answered questions from the press regarding the agenda. When asked whether the tariff rates were final, he hinted that the rates mentioned in the letters could be negotiated, saying, "But if they come with a different offer and I like it, we will do it."

When asked if the August 1 date was definitive, he replied, "I can say definitive, but not 100 percent certain. If they call and say, 'We want to follow a different path,' we will be open to that."

AGREEMENT WITH INDIA IS NEAR

Trump stated that they had held talks with many countries during the 90-day tariff postponement period and that some were concluded just by letter. "We talked to everyone. I had said, 'We will make some deals, but mostly we will send a letter,'" said Trump, adding that agreements had been reached with China and the UK, and that they could reach a consensus with India very soon.

On the other hand, arguing that the rates reported in the sent letters could actually be higher, Trump hinted that the implementation was shaped according to diplomatic balances with the words, "For the sake of the relationships we have built with many good countries, we are doing as I have done."

BRICS MEMBERSHIP AND ECONOMIC IMPACTS

Trump also stated that BRICS countries could face an additional 10 percent customs tariff if they adopt anti-American policies. South Africa, as one of the founding members of BRICS, is a target of this threat.

As of 2024, the US is South Africa's second-largest trading partner. Last year, South Africa exported 8.2 billion dollars worth of goods to the US. However, the new tariffs are expected to negatively affect the South African economy and further increase the country's high unemployment rates. According to estimates in the national press, this situation could lead to tens of thousands of job losses.