Overview

• Official letters to seven countries outline reciprocal tariffs kicking in Aug. 1 with 25% duties on Japan, South Korea, Malaysia and Kazakhstan, 30% on South Africa and 40% on Laos and Myanmar.
• The April tariff framework underpins the new duties and remains in effect pending appeal after partial blockage by the U.S. Court of International Trade.
• The tariffs aim to close substantial U.S. goods deficits—$68.5 billion with Japan and $66 billion with South Korea in 2024—and target the automotive industry.
• Trump warned that Japanese auto imports could face duties up to 35% and announced an additional 10% surcharge on countries aligned with BRICS policies he deems “anti-American.”
• Treasury Secretary Scott Bessent says active negotiations could secure bilateral deals before the Aug. 1 reinstatement, mirroring pacts already struck with the U.K., Vietnam and China.