Trump, Philippines and tariffs
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The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.
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Stock markets in US, Europe fall as Trump ramps up tariff threatsStock markets in the United States and Europe retreated Friday as US President Donald Trump ramped up his trade offensive. Trump threatened a 35-percent levy on Canada. Trump dampened earlier optimism by firing off more than 20 letters to governments.
President Trump posted letters to his Truth Social platform Wednesday outlining tariff levels for seven countries. Trump said he would levy 30% tariffs on Libya, Iraq, and Algeria, effective Aug. 1. Moldova and Brunei will get 25% tariffs,
Manila will seek fresh talks with the Trump administration over Washington’s newly imposed 20 percent tariff on Philippine exports – up from the
It shows that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs.
In a letter to Brazilian President Lula da Silva, Trump declared a 50% tariff on all imports from Brazil, warning that any retaliatory tariff increases would be added to the initial 50%.
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Philippines ramps up efforts to forge win-win US trade dealThe Marcos administration is ramping up efforts to forge a favorable trade deal with the United States, as the new import tariffs to be imposed by the Trump government on its trading partners including the Philippines are set to take effect,
The administration's missives reupping — but also delaying — his tariff threats are further souring the mood toward the US ahead of Secretary of State Marco Rubio's trip to the region.
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