President Trump said the U.S. will impose steep levies on imports from 20 countries starting next month, raising pressure on trading partners.
Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting.A 90-day freeze on country-specific U.S. tariffs on dozens of nations, including Japan and South Korea, expires on July 9. That deadline, however, is no longer significant, with Mr. Trump saying on social media that "tariffs will start being paid on Aug. 1, 2025."Indonesia is the lone country facing a possible tariff rate of 32%. Imports from South Africa and Bosnia and Herzegovina will be subject to 30% duties as of Aug. 1, while goods from Malaysia, Kazakhstan and Tunisia will be taxed at 25%, Mr. Trump said in letters posted on Truth Social.The president posted six more tariff letters on Truth Social on Wednesday morning, bringing the total number of tariff letters sent to 20. They include a letter to the Philippines, which faces a 20% levy on its products, unless a trade deal with the U.S. is reached by Aug. 1.