Trump Administration announces new tariffs; implementation delayed to Aug. 1
by National Marine Manufacturers Association 9 Jul 00:58 BST
Boating Industry © National Marine Manufacturers Association
Yesterday, President Donald Trump announced plans to impose new tariff rates on imports from several countries starting on Aug. 1, citing what he described as unfair trade practices and persistent trade imbalances. The tariffs, ranging from 25% to 40%, were formally communicated through letters sent to the respective governments and publicly posted to Truth Social.
An executive order delays the effective date of the tariffs until Aug. 1, providing a three-week window for potential negotiations or trade concessions. Below is a sample list of countries with their new tariff rates as more detail was released by the White House yesterday in this fact sheet:
- 25% Tariffs: Japan, South Korea, Malaysia, Kazakhstan, Tunisia
- 30% Tariffs: South Africa, Bosnia and Herzegovina
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