President Donald Trump has intensified his trade agenda, announcing tariff letters sent to seven nations—Sri Lanka, Algeria, Iraq, Libya, Philippines, Moldova, and Brunei—promising levies up to 30 per cent starting 1 August unless trade deals are secured.
In a Truth Social post, Trump declared on 9 July: 'TARIFFS WILL START BEING PAID ON AUGUST 1, 2025', emphasising no extensions.
He teased supporters, saying: 'You won't be disappointed', hinting at broader economic impacts.
Target Strategic Nations
The tariffs, ranging from 20% (Philippines) to 30% (Algeria, Iraq, Libya), follow Trump's April 2025 'Liberation Day' plan, which set a 10% baseline levy for most trading partners.
The White House sent letters to over 20 countries this week, with earlier notices targeting Japan, South Korea, and South Africa.
Only the Philippines ranks among the US's top 50 trade partners, exporting £11.3 billion ($15.3 billion) in electronics and textiles last year.
Trump's letters, shared on Truth Social, conclude: 'We look forward to working with you as your Trading Partner', but warn of strict enforcement.
Spark Global Concerns
Trump's move follows a 90-day negotiation pause, extended to 1 August after market turmoil in April.
X user @usatodayDC noted: 'Trump notified seven more countries they would be hit with higher tariffs starting August 1', calling it a 'fair' move.
@ETNOWlive added: 'Donald Trump slaps up to 30% tariffs on THESE seven nations'.
These posts, while inconclusive, reflect mixed sentiments.
Japan's Prime Minister Shigeru Ishiba expressed regret, stating: 'We deeply regret that the US government has imposed additional tariffs', urging negotiations to protect national interests.
Highlight Economic Risks
Trump's tariffs aim to address 'unfair trade practices,' a cornerstone of his 2024 campaign. Critics warn of potential economic fallout, with costs to US consumers reaching £40 billion ($54.4 billion) annually if tariffs are expanded.
The 50% copper tariff, effective 1 August, has spiked futures by 35%, impacting electronics industries that rely on imports from Chile.
Only the UK and Vietnam have secured trade frameworks, while China's truce lasts until 12 August. The EU faces potential tariffs despite ongoing negotiations, which could risk further market volatility.
Question Political Motives
The tariffs, paired with a 50% levy on Brazil tied to Jair Bolsonaro's prosecution, suggest political motivations.
Treasury Secretary Scott Bessent framed them as 'tailor-made trade plans', but critics argue they prioritise leverage over strategy.
The BRICS bloc, comprising Brazil and India, faces a 10% levy for challenging the US dollar's dominance, which could spark a trade war. Affected nations may retaliate, potentially stunting global growth.
Trump's selective targeting, sparing allies like Hungary while pressuring nations with weaker diplomatic ties, raises concerns about fairness.
Analysts warn that using tariffs to settle political scores could undermine long-term US economic interests, escalating tensions with emerging markets.
This approach may embolden rivals to form counter-alliances, complicating global trade dynamics.
Demand Fair Trade Solutions
Trump's tariff threats, promising supporters they 'won't be disappointed', signal a bold reshaping of global trade.
Yet, the risk of higher prices and strained alliances demands scrutiny. Nations like the Philippines and Iraq, with limited trade volume, face disproportionate pressure.
Stakeholders must push for transparent negotiations to balance fairness with stability. Consumers, facing potential £40 billion ($54.4 billion) in added costs, deserve policies that protect their wallets.
Global leaders should collaborate on equitable trade frameworks, avoiding retaliatory cycles that harm smaller economies.
Communities can advocate for diplomatic solutions, ensuring trade policies prioritise mutual prosperity over political agendas, fostering a resilient global economy for all.
