The tariff letters have been released for the following additional countries:
- 30% for Libya
- 30% for Iraq
- 30% for Algeria
- 5% for Moldova. We have near 0% trade with this country.
- 25% for Brunei
- 20% for Philippines. Goods transshipment to evade higher tariff will be subject to higher tariffs.
Of the total trade, the countries today account for the following % of total trade:
Philippines: 0.42%
Algeria: 0.08%
Libya: 0.04%
Iraq: 0.01%
Brunei: 0.002%
Moldova: 0.001
The total imports from the Phillippines is $14.16B. The tariffs that will be collected would be $2.832B.
Prior to today:
14 Countries Notified, including major allies:
Japan & South Korea: 25% tariffs on all imports
Other countries and rates:
Myanmar & Laos: 40%
Cambodia & Thailand: 36% (unchanged from last round)
South Africa, Malaysia, Kazakhstan, Bangladesh, Indonesia, Tunisia, Serbia, Cambodia, Bosnia & Herzegovina: between 25% and 40%
Upcoming Sector-Specific Tariffs flagged in the letters and other signals:
Copper: 50% tariff announced
Semiconductors & Pharmaceuticals: additional tariffs under review/directed
The total of imports with Japan is $148B. At 25%, the total tariffs collected would be $37B
Below is "the letter". Of note, is
- The invitation to participate in the "Number One Market in the World". Implying you have to pay to play.
- The adjustment is for a more balanced and fair Trade.
- The deficits are a "major threat to our Economy and indeed our National Security!"
