By Brendan Scanland
WASHINGTON, D.C. – President Donald Trump is turning up the heat on several of America’s trading partners, announcing new tariffs while also backing off others — for now.
On Monday, Trump sent letters to the leaders of countries including Japan, South Korea, Malaysia, South Africa, Indonesia, Thailand, and others, outlining new tariff rates as part of his ongoing push to level the global trade playing field.
Wednesday marks the conclusion of a 90-day pause on Trump’s “reciprocal tariffs,” which began April 9. The new deadline for all countries — with the exception of China — is now August 1.
Imports from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia are now slated to face 25% tariffs beginning August 1. Goods from South Africa and Bosnia will be subject to a 30% U.S. tariff, while imports from Indonesia will be hit with a 32% excise duty.
“They’ve had their way for many, many decades, as you know. And it was time that we just wanted fairness,” President Trump said.
Countries found to be “transshipping” could face even higher rates. Transshipping involves offloading goods from one mode of transportation and reloading them onto another, often to disguise their country of origin.
While doubling down on tariffs for many countries, the president also extended the deadline for the broader slate of “reciprocal” tariffs to August 1 — and kept up pressure on China. Trump and some trade experts argue China has long taken advantage of the U.S. and must be held accountable.
“But the number one country that we need to establish fair trade with is China. It’s our biggest trading partner. We’re their biggest trading partner. And they’re not playing by the rules,” said Arnie Bellini, CEO of Bellini Capital and chairman of ConnectSecure.com. “So it’s siphoning off value out of our economy into their economy. And that value that’s being siphoned off into the Chinese economy is being poured into military strength and suppressing their own citizens. We don’t need to be supplementing their iron fist over their citizens.”
Bellini says the president is attempting to undercut China’s dominance by negotiating deals with neighboring countries — including a recent agreement with Vietnam.
“The recent deal with Vietnam enraged Beijing,” Bellini said. “He [Trump] is going big, bing, bing all around China’s perimeter, showing them examples of ‘this is all we’re asking for- we’re just asking for fair trade, we’re asking for a fair deal.’ Our economy is open up to you. You’ve got to open your economy to us.”
“Everyone has been taking advantage of us. So it’s a great source of revenue if we appropriately tariff them. But more importantly, it’s a reset of global trade,” he added.
Despite the revived tough talk on tariffs, Wall Street appeared unfazed. Global markets remained relatively calm Tuesday as new data from the Federal Reserve Bank of New York showed growing consumer confidence. The June survey found that inflation concerns cooled, while job security and income growth outlooks improved.
President Trump also announced a new 50% tariff on all copper imports Tuesday, though it remains unclear when it will take effect. The copper tariff marks the fourth across-the-board import tax Trump has imposed during his second term.
According to Treasury Secretary Scott Bessent, tariffs have generated roughly $100 billion in revenue for the U.S. so far this year.
