New Trump Tariff Announced: US President Donald Trump has announced to implement new tariff rates on 6 countries. These countries include the Philippines, Iraq, Moldova, Algeria, Libya and Brunei. The new tariff order will be applicable from 1 August 2025. This decision has come when Trump has already announced tariffs on 14 other countries including South Korea and Japan. Now these 6 new countries have also been added to the list of tariffs.

How much tariff is on which countries?

• Philippines: 25%
• Brunei: 25%
• Moldova: 25%
• Iraq: 30%
• Algeria: 30%
• Libya: 30%

President Trump has sent an official letter to the leaders of these countries giving complete information about the tariff. Under this decision, the maximum tariff has been fixed at 30%, which will apply to Iraq, Algeria and Libya. The Trump administration believes that this step is necessary to protect American trade interests.

10% tariff on BRICS countries also
Trump had announced a plan to impose a 10% tariff on goods coming from BRICS countries Brazil, Russia, India, China and South Africa a day earlier. This step may further increase commercial tension between the US and emerging economies.

Big rates on copper and medicines
President Trump also informed that 50% tariff will be imposed on copper (copper) in the US. Along with this, he indicated that the tariff on pharma products (medicines) can increase by 200% within a year.

Together, there has been an atmosphere of uncertainty and anxiety in the global markets, because these changes in business policies can have a big impact on international business.