Trump signals customs tariffs for numerous countries

The United States is preparing to implement new customs tariffs on several countries. In a statement yesterday, President Donald Trump signaled a new era in Washington's trade policies, saying, “Tomorrow morning we will announce at least 7 countries concerning trade. In the afternoon, we will announce more.”

Trump's remarks follow recent increases in economic pressure on BRICS nations and ongoing trade tensions with the European Union.

Experts evaluating the matter point out that the countries Trump is referring to could include Tunisia, Malaysia, Kazakhstan, South Africa, Bosnia and Herzegovina, Indonesia, Serbia, Bangladesh, Cambodia, Thailand, Laos, and Myanmar, all of which had previously received warnings regarding customs tariffs.

In a statement last Monday, the U.S. President recalled that official letters regarding customs tariffs had been sent to 14 countries and warned that if a consensus is not reached by August, the tariffs would be further increased. It was also stated that if these countries were to impose retaliatory additional taxes on the U.S., more severe economic sanctions would be implemented.

In the same speech, Trump stated, “Customs tariffs applied to countries that identify themselves with BRICS' anti-U.S. policies will be increased by 10 percent,” and had previously drawn attention with the remarks, “They have exploited the U.S. for years, now they will pay the price.”