US President Donald Trump announced on Wednesday 30 percent tariffs on three Arab countries: Algeria, Iraq, and Libya.
He also imposed tariffs on Sri Lanka (30 percent), Brunei and Moldova (25 percent), and the Philippines (20 percent).
In a post on his Truth Social account on Wednesday, Trump outlined the tariff rates that will be applied to the aforementioned countries starting August 1.
He indicated that the tariff rates could be adjusted up or down depending on the relations between the United States and those countries.
On Monday, Trump published messages listing the tariffs imposed on 14 countries: Tunisia, South Korea, Malaysia, Kazakhstan, Japan, and South Africa.
In addition, he also imposed tariffs on Bosnia and Herzegovina, Indonesia, Serbia, Bangladesh, Thailand, Cambodia, Myanmar, and Laos.
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Last April, the US president announced sweeping tariffs against most trading partners before suspending most of them until July 9 following turmoil in stock and bond markets.
Over the past three months, the Trump administration has sought to conclude trade agreements with more than a dozen countries to lower trade barriers to US exports and avoid imposing additional tariffs.
However, the United States has only reached two preliminary agreements with the United Kingdom and Vietnam, while a framework for a trade agreement with India is expected to be announced in the coming days.
