#TrumpTariffs Economy and Money

Trump announces new tariffs of up to 40% on a growing number of countries

By Elisabeth Buchwald, CNN

5 min read

12:45 ET (16:45 GMT) July 7, 2025

How do the new tariffs driven by Trump impact the ...

01:54

CNN

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President Donald Trump increased pressure on U.S. trading partners on Monday by sending letters to leaders of several countries to inform them of his new tariffs.

Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung were the first recipients.

Both countries will face a 25% tariff starting August 1, Trump reported in posts on Truth Social showcasing the letters, which could give the countries more time to negotiate agreements.

About two hours later, he announced the sending of similar letters to Malaysia, Kazakhstan, South Africa, Myanmar, and Laos, informing their leaders about new tariffs of up to 40%.

Even more letters could be on the way: Trump is expected to announce “approximately 12 of these letters” on Monday, according to White House Press Secretary Karoline Leavitt, who spoke to the press at a news conference. The letters will be announced by the president through social media posts, she said, but she refused to reveal which countries would be named.