United States President Donald Trump has announced a new wave of import tariffs targeting seven countries, including Sri Lanka, with duties set to take effect from 1 August.
The latest measures, revealed on Wednesday via Trump’s social media platform, Truth Social, include 30% tariffs on imports from Sri Lanka, Iraq, Algeria, and Libya. The Philippines, Brunei, and Moldova will face a 25% tariff.
This comes just a day after Trump unveiled a sweeping round of tariffs of up to 40% on goods from 14 countries, including Bangladesh, Japan, and South Korea—marking an aggressive expansion of his administration’s trade war agenda.
List of new tariff targets:
- Sri Lanka: 30%
- Iraq: 30%
- Algeria: 30%
- Libya: 30%
- Philippines: 25%
- Brunei: 25%
- Moldova: 25%
Trump, who referred to 2 April as “Liberation Day” for American trade, had initially imposed a 10% tariff on most imports globally, triggering volatility in international markets. The White House subsequently paused the measures for 90 days in response to mounting pressure and to provide room for negotiations. That pause expired on 9 July.
The US has since concluded trade agreements with the United Kingdom and Vietnam, while a temporary deal with China to reduce duties on selected goods has also been reached. However, no broader resolution appears in sight.
Trump warned that further tariff announcements are imminent, stating on Truth Social: “We will be releasing a minimum of seven countries having to do with trade, tomorrow morning, with an additional number of countries being released in the afternoon.”
The nearly identical tariff letters, signed by Trump and addressed to each affected head of state, suggest the new duties may be reviewed depending on Washington’s diplomatic and trade relations with the respective countries.
So far, 21 countries have been impacted by the US President’s revised tariff regime, with rates ranging from 20% to 40%, signalling a more isolationist trade posture as Trump intensifies his re-election campaign messaging.
International markets have reacted with concern to the renewed uncertainty in global trade, with analysts warning of ripple effects across emerging economies.