7 more nations issued tariff letters by US

US President Donald Trump on Wednesday issued a round of tariff letters to seven countries, including Algeria, Iraq, Libya, Sri Lanka and the Philippines. The letters call for tariffs of 30 per cent each on Algeria, Iraq, Libya and Sri Lanka, 25 per cent each on Brunei and Moldova, and 20 per cent on the Philippines. India, which is negotiating a trade pact with the US, has not figured in the list of countries that have been issued tariff letters by the Trump administration on Wednesday so far. The US has issued tariff letters to about 20 countries so far.

Trump sent out tariff letters to seven trading partners on Wednesday, and pledged to announce import taxes on more countries later in the night. The Trump administration, on Monday, sent the first tranche of letters to 14 countries detailing the tariffs that the US will impose on products from those countries entering American markets from August 1.