New Trump Tariffs Hit Six Nations: 30% Duty on Iraq, Libya, Algeria From August 1

U.S. President Donald Trump has issued formal letters to six countries announcing a fresh round of tariffs, including a steep 30% duty on all imports from Iraq, Algeria, and Libya. These tariffs are scheduled to take effect from August 1, 2025, unless the nations involved reach new trade agreements with Washington.

Countries and Tariffs Announced:

Iraq: 30% on all goods

Algeria: 30%

Libya: 30%

Brunei: 25%

Moldova: 25%

Philippines: 20%

Trump stated that the move is part of his administration's ongoing efforts to eliminate "unfair trade deficits" and to encourage countries to increase U.S. imports and bring manufacturing back to America. He warned that any retaliatory tariffs would be met with even stricter U.S. measures.

The letters, shared publicly on Trump's Truth Social platform, emphasized that the August 1 start date is final, with no scope for extensions or renegotiations. Trump also signaled that more countries will be added to the list in the coming days, bringing the total impacted under this new policy to 20 nations.

This decision follows earlier tariff hikes on Japan and South Korea and is part of a broader Trump initiative to raise import duties on sectors like pharmaceuticals, copper, and semiconductors. The President has also threatened to impose a 10% tariff on all BRICS countries-Brazil, Russia, India, China, and South Africa.

While the Trump administration views the tariffs as a tool for economic fairness and national security, economists have cautioned that these sweeping duties could trigger global supply disruptions and higher costs for American businesses and consumers.

(With inputs from Reuters, AFP)