President Donald Trump sent letters to 14 countries Monday outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1.
In the letters, which were posted on Truth Social, Trump warned countries that they would face even higher tariffs if they retaliated by increasing their own import taxes.
Here’s a look at the countries that got tariff letters Monday:
Tariff rate: 40%
Key exports to the U.S.: Clothing, leather goods, seafood
Tariff rate: 40%
Key exports to the U.S.: Shoes with textile uppers, wood furniture, electronic components, optical fiber
Tariff rate: 36%
Key exports to the U.S.: Textiles, clothing, shoes, bicycles
Tariff rate: 36%
Key exports to the U.S.: Computer parts, rubber products and gemstones
Response: Thailand’s Deputy Prime Minister Pichai Chunhavajira said Thailand will continue to push for tariffs negotiations with the United States. Thailand on Sunday submitted a new proposal that includes opening the Thai market for more American agricultural and industrial products and increasing imports of energy and aircraft.
Tariff rate: 35%
Key export to the U.S.: Clothing
Response: Bangladesh’s finance adviser Salehuddin Ahmed said Bangladesh hopes to negotiate for a better outcome. There are concerns that additional tariffs would make Bangladesh’s garment exports less competitive with countries like Vietnam and India.
