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Trump imposes new tariffs on 8 countries, including ASEAN members, with 50% tax on Brazil

Trump imposes new tariffs on 8 countries, including ASEAN members, with 50% tax on Brazil

Provided by Nation.

Trump announces new tariffs, including 50% on Brazil and 20% on the Philippines. ASEAN countries urged to strengthen regional trade amid US pressure.

US President Donald Trump on July 9 announced new import tariffs on eight countries, including ASEAN members such as Brunei and the Philippines, following a series of trade measures set to take effect from August 1. The new tariffs, ranging from 20% to 50%, reflect ongoing tensions between the US and these nations, as well as concerns over economic sovereignty.

The new tariffs announced in Trump’s letter include:


Algeria, Iraq, Libya, Sri Lanka: 30% tariff
Brunei and Moldova: 25% tariff
Philippines: 20% tariff
Brazil: 50% tariff, up from 10% following the "Liberation Day" incident in April, where Trump critiqued former Brazilian President Jair Bolsonaro over election interference concerns.


Trump’s decision to target Brazil with the highest tariff of 50% follows criticisms of the Brazilian government's actions against US freedoms, particularly surrounding social media bans and freedom of speech violations, justifying the tariff increase.In the same round of announcements, eight ASEAN countries were also affected:


Philippines: Increased from 17% to 20%
Brunei: Increased from 24% to 25%
Malaysia: 25%
Indonesia: 32%
Cambodia: 36%
Thailand: 36%
Laos: 40%
Myanmar: 40%


However, Vietnam reached a separate agreement with the US, settling on a 20% tariff, while Singapore remains unaffected with a 10% tariff.

This move has prompted ASEAN leaders to convene in Kuala Lumpur on July 9, where Malaysian Prime Minister Anwar Ibrahim, as ASEAN’s chair, called for enhanced regional trade, noting that ASEAN is the fifth largest economy in the world, heavily reliant on exports. He expressed concern over the detrimental impact of the US tariffs on ASEAN nations, which have led to intensified trade talks with the US.

Malaysia’s Minister of Investment, Trade, and Industry stated that while Malaysia is committed to negotiations, it would not compromise on key national interests. The country is seeking a reduction in the 25% tariff imposed on its exports and is discussing issues related to digital taxes, e-commerce, and other domestic policies that the US has targeted.

The Malaysian delegation has held at least 25 rounds of talks with the US and proposed improvements in labour and environmental protection measures. Malaysia is also pushing for a deal to purchase at least 30 Boeing aircraft for Malaysia Airlines, alongside agreements in semiconductors and technology.

The​ Nation's​ Editorial: thenation@nationgroup.com

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AFP-JIJI PRESS NEWS JOURNAL


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