President Trump's social media team fired off a barrage of trade warning letters on Monday, including ones sent to Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, Myanmar, Bosnia and Herzegovina, Tunisia, Indonesia, Bangladesh, Serbia, Cambodia, and Thailand. Each letter explained the new tariff rates—ranging from 25% to 40%—on goods exported from the respective country to the U.S.
The president announced on Tuesday via his social media platform, Truth Social, that more tariff warning letters will be sent out today, and that no further trade extensions will be granted. The hard deadline remains August 1—meaning countries that have yet to strike a deal with the Trump administration will soon begin paying levies on their products entering U.S. ports.
"As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025," Trump wrote on Truth Social at 10:45 ET.
He continued, "There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted. Thank you for your attention to this matter!"
An overview of the letters issued thus far (as of Monday evening):
Main takeaways:
The deadline was pushed towards August 1 vs. July 9;
Announced new tariff levels (effective on August 1) for 14 countries
Trump said that the tariffs on each country would be separate from any "sectoral" tariffs that he imposes;
We should expect more deals/letters coming: Leavitt said Trump will send more letters
Goldman's take on the effects of implemented, expected, and/or proposed tariffs on the U.S. effective tariff rate...
The U.S. Dollar and UST10Y have been tracking higher since the European market opened...
*Developing...