Trump delays Liberation Day 2.0, but threatens new tariffs

Donald Trump has extended his 90-day tariff pause but has sent letters to 14 countries detailing the tariffs they will face from 1 August, as well as threatening new levies on copper and pharmaceuticals

US President Donald Trump
(Image credit: Al Drago/Bloomberg via Getty Images)

Donald Trump’s 90-day tariff pause was due to come to an end today (9 July). The idea was that the punitive measures outlined on ‘Liberation Day’ would be reinstated for countries without a trade agreement with the US.

However, on Monday (7 July), the president announced an extension until 1 August. He also said letters had been sent to 14 countries including Japan, South Korea and Thailand, detailing the tariffs they would pay from this date.

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Country

Share of US imports

Newly announced tariff

Japan

4.5%

25%

South Korea

4%

25%

Thailand

1.9%

36%

Malaysia

1.6%

25%

Bangladesh

Less than 1%

35%

Bosnia & Herzegovina

Less than 1%

30%

Cambodia

Less than 1%

36%

Indonesia

Less than 1%

32%

Kazakhstan

Less than 1%

25%

Laos

Less than 1%

40%

Myanmar

Less than 1%

40%

Serbia

Less than 1%

35%

South Africa

Less than 1%

30%

Tunisia

Less than 1%

25%

Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.