Trump announces another batch of sweeping tariffs

US President Donald Trump hit the ground running on Wednesday, unveiling his next list of countries that will be facing double-digit tariffs on August 1 if satisfactory trade deals are not delivered. Trump also reiterated his warnings of an additional 10% tariff on any BRICS-aligned country.

Key highlights

Trump warns of additional tariffs on all imports from:

• Libya (30%)
• Iraq (30%)
• Algeria (30%)
• Moldova (25%)
• Brunei (25%)
• Phillipines (20%)