Mr. Trump imposes 50% import tax on Brazil, 7 other partners 20-30%

Mr. Trump announced that he will impose tariffs of 20% to 30% on 6 countries from August 1, extending the list of 14 countries that received previous letters.

US President Donald Trump - Photo: REUTERS

On the evening of July 9 (Vietnam time), on the social network Truth Social, US President Donald Trump published letters announcing the imposition of tariffs on 7 countries.

Specifically, the US will impose a 30% tax on Algeria, Iraq, Libya, Sri Lanka; a 25% tax on Brunei, Moldova and a 20% tax on the Philippines.

The tariffs will start on August 1, unless countries reach a trade deal with the US.

Before releasing these six letters, on July 8, Mr. Trump “teased” that he would announce trade measures with at least seven countries on July 9. Thus, it is expected that the US president will post more “tax letters” during the day.

List of new tax rates the US imposed on 20 countries according to Mr. Trump's notification letter (left column), compared to the previously "threatened" levels - Photo: CNBC

The US stock market is closely watching tariff updates from President Trump.

According to CNBC, the S&P 500 index rose 0.3% on July 9, led by technology stocks. Meanwhile, the Nasdaq Composite rose 0.5%, while the Dow Jones rose 84 points, or 0.2%.

Nvidia shares rose 2%, becoming the first company to reach a market capitalization of $4 trillion. Other tech giants also rose, including Meta Platforms, Microsoft and Alphabet, reflecting renewed interest in artificial intelligence (AI).

The developments come as investors appear to be unperturbed by the tariff issue this week.

"The market is ignoring these tariff threats and thinking there's still room for deals and negotiations. I think the delay to August 1, and sometimes the hint that it could be pushed back further, is an admission that the administration still wants to negotiate, and the market is betting on that possibility until proven otherwise," Baird investment strategist Ross Mayfield told CNBC.

The letter imposing tariffs on Brunei was posted by Mr. Trump on the social network Truth Social on July 9 - Screenshot

Like the first 14 letters he announced on July 7, the tariffs imposed on the six countries mentioned above are not much different from the reciprocal tariffs first announced in April.

The content of these letters is quite similar, citing the current trade relationship as "very lacking in reciprocity." The letters call on countries to produce in the US to avoid tariffs, while warning that Washington will escalate measures if countries retaliate.

In April, Mr. Trump announced that he would impose reciprocal tariffs on hundreds of economies , but then postponed it for 90 days to negotiate. On July 7, the White House announced that it would postpone the deadline again until August 1.

In addition to tariffs on goods from various countries, since returning to the White House in January, Mr. Trump has also implemented separate import taxes on steel, aluminum, and cars.

On July 8, Mr. Trump announced that he would continue to impose a 50% tax on copper and consider imposing up to 200% on pharmaceuticals.

Tuoitre.vn

Source: https://tuoitre.vn/ong-trump-cong-bo-them-thu-ap-tax-tu-20-30-voi-6-nuoc-20250709230617099.htm