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When you wake up, you might find that the highest tax rate has increased by 40%! Trump has named 14 countries that will face additional taxes if they engage in transshipment activities | Maritime Export Logistics
Jul 08,2025
On July 7, US President Donald Trump issued a series of blockbuster news, not only sending a letter threatening 14 countries, including Japan, South Korea and South Africa, to impose taxes, but also signing an executive order extending the temporary period of so-called "reciprocal tariffs," the implementation time of which was postponed from July 9 to August 1.
This series of operations caused severe market turmoil, and the exchange rate of the Japanese yen and the Korean won plunged against the US dollar, and the three major US stock indexes also collectively fell, with the Dow, Nasdaq and S & P 500 all falling more than 1% in the session. Among them, Toyota Motor ADR fell more than 4%, Nissan Motor ADR fell more than 7%, the worst intraday performance since February 12.
Japan, South Korea and other countries face high tariffs
Trump published letters on social media to Japanese Prime Minister Shigeru Abe and South Korean President Lee Jae-ming announcing that the United States would impose a 25 percent tariff on all Japanese and South korean imports from August 1, 2025. In his letter, Mr Trump stressed: "The 25 per cent figure is far below the level needed to eliminate our trade deficit with your country."
The trade deficit has become a major threat to the U.S. economy and even to national security, and therefore changes must be made. If Japan, South Korea and South Korea respond by raising tariffs, the United States will also raise the same amount of tariffs on the basis of 25%.
In addition to Japan and South Korea, Trump also announced that he would impose 25 percent tariffs on exports from Kazakhstan and Malaysia, 30 percent on exports to South Africa, and 40 percent on those from Laos and Myanmar.
In letters to Indonesia, Bosnia and Herzegovina, Bangladesh, Serbia, Cambodia, Thailand and Tunisia, Trump said the US would impose a 32% tariff on imports from Indonesia, a 30% tariff on Bosnia and Herzegovina, a 35% tariff on Bangladesh and Serbia, a 36 percent tariff on both Cambodia and Thailand and a 25% tariff on Tunis.
Transshipments from third countries will face higher tariffs
In a letter sent to Japan, South Korea and the 12 countries mentioned above, Trump made clear that any attempt to circumvent the new tariffs through transit through third countries will be subject to higher tariffs. He stressed that companies from those countries would not have to pay the duty if they chose to build factories or produce goods in America.
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