US President Donald Trump on Wednesday announced new import tariffs of up to 30% on several trading partner nations, including Libya, Iraq, and Algeria. The Trump administration has imposed 20% tariffs on the Philippines. The revised rates will come into effect on 1 August 2025.
The Philippines will be paying 20% in tariffs, Brunei 25%, Moldova 25%, Algeria 30%, Iraq 30%, and Libya 30%.
The announcement comes just days after Donald Trump sent tariff letters to 14 other nations, informing their heads of state regarding new trade tariffs. The new round of letters brings the total number of countries targeted under the latest tariff push to 20.
No Further Extension
Earlier on Tuesday, Trump said he would not offer any further extensions to a new August 1 deadline for nations to start paying reciprocal tariffs.
Trump took to Truth Social and said, “TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted.”
India To Receive Letter Soon
India is also likely to receive the highly anticipated tariff letter from the White House soon. New Delhi and Washington have been locked in detailed negotiations for a bilateral trade deal. The aggrement between the two countries is set to be finalised before the July 9 deadline, after which the 26 per cent tariff on India (16 per cent impending and 10 per cent existing) will be effective.
