KEEPING AMERICA IN THE DRIVER’S SEAT: Today, President Donald J. Trump signed an Executive Order determining that certain tariff rates, which were initially set to expire on July 9, will expire on August 1, 2025. President Trump also sent tariff letters to many countries informing them of their new reciprocal tariff rates, which will take effect on August 1.
- President Trump took these actions based on information and recommendations from senior officials, including information on the status of trade negotiations.
- Since President Trump modified the tariff rates roughly 90 days ago, dozens of countries have agreed or offered to lower their tariff rates and eliminate non-tariff barriers to move toward a more balanced trade relationship with the United States.
- Notwithstanding this significant and historic progress, the U.S. trade deficit remains severe.
- While the United States is open to additional trade discussions and deals, President Trump is taking action to establish trade relations going forward.
- President Trump sent letters to many countries explaining that, starting August 1, they will be subject to new reciprocal tariff rates designed to make the terms of our bilateral trade relationships more reciprocal over time and to address the national emergency caused by the massive U.S. goods trade deficit.
- In some instances, countries will be subject to a revised reciprocal tariff rate that is lower than the rate initially announced on April 2.
- For others, the reciprocal tariff rate may be higher than the previous rate.
- The President may send more letters in the coming days and weeks. The countries he sent letters to today include:
- Japan (25%)
- Korea (25%)
- South Africa (30%)
- Kazakhstan (25%)
- Laos (40%)
- Malaysia (25%)
- Myanmar (40%)
- Tunisia (25%)
- Bosnia and Herzegovina (30%)
- Indonesia (32%)
- Bangladesh (35%)
- Serbia (35%)
- Cambodia (36%)
- Thailand (36%)
TAKING BACK OUR ECONOMIC SOVEREIGNTY: Today’s Order, combined with letters sent to trading partners, underscores President Trump’s commitment to take back America’s economic sovereignty by addressing many nonreciprocal trade relationships that threaten our economic and national security.
- President Trump is the best trade negotiator in history. His strategy has focused on addressing systemic imbalances in our tariff rates that have tilted the playing field in favor of our trading partners for decades.
- Countries that aren’t serious about addressing the tariff and non-tariff trade barriers that impede American exports and harm American workers, farmers, and businesses are facing the consequences.
- President Trump welcomes the business of our trading partners on American soil: as these countries are aware, there will be no tariff if they decide to build or manufacture products in our country.
- President Trump has committed that the United States will do everything possible to get approvals quickly, professionally, and routinely to bring back manufacturing jobs for Americans.
- President Trump is using tariffs as the necessary and powerful tool to put America First after many years of unsustainable trade deficits that threaten our economy and national security.
LIBERATING AMERICA FROM UNFAIR TRADE PRACTICES: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged them for decades and contributed to our historic trade deficit.
- On April 2, President Trump declared a national emergency in response to the large and persistent U.S. goods trade deficit caused by a lack of reciprocity in our bilateral trade relationships, unfair tariff and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption.
- President Trump continues to advance the interests of the American people by calling on trading partners to remove tariff and non-tariff barriers and expanding market access for American exporters.
- Today’s announcement, based on reciprocity and fairness, will help usher in a Golden Age for the American People.