President Donald Trump intensified his trade push Monday by announcing new tariffs of up to 40% on goods from a growing list of countries, while simultaneously extending the deadline for most “reciprocal” tariffs excluding China to August 1.
Trump personally sent letters to leaders of 14 countries, including Japan, South Korea, Indonesia, Bangladesh, and Serbia, informing them of upcoming tariff hikes. Japan and South Korea will each face a 25% tariff starting August 1, while other nations such as Bosnia and Herzegovina are set to be hit with tariffs as high as 30%. For countries like Malaysia, Laos, and Tunisia, tariffs could reach 40%.
The move comes just days ahead of the initial July 9 deadline, which had marked the expiration of a pause on reciprocal tariffs that first took effect in April at a minimum rate of 10%. Trump’s executive action now gives these countries more time to negotiate new trade terms — but not China, which remains excluded from the extension.