U.S. Chamber of Commerce CEO Suzanne Clark explains how tariffs influence selections of CEOs everywhere in the county on ‘The Claman Countdown.’
Fourteen nations have been given till Aug. 1 to barter commerce offers with the Trump administration or danger the imposition of upper tariffs.
Whereas the vast majority of the brand new tariffs introduced on Monday intently replicate the charges proposed by President Donald Trump in April, Laos and Myanmar are set to face the best levy at 40%.
TRUMP ANNOUNCES 25% TARIFFS ON JAPAN, SOUTH KOREA
Items from Serbia and Bosnia and Herzegovina will face barely decrease charges of 35% and 30%, respectively. And the remaining nations: Japan, Kazakhstan, Malaysia, South Korea and Tunisia will see a 25% tariff hike.
This is a take a look at a number of the commerce profiles of nations named in Trump’s latest tariff letters thus far:
Bangladesh
Foremost exports: Knit T-shirts, fits and knit sweaters.
2024 export worth: $8.4 billion.
Commerce relationship worth: $10.6 billion.
Tariff: 35%.
Affect: Bangladesh’s economic system is closely depending on the U.S. market. Bangladesh, the world’s second-largest garment exporter, shipped an estimated $8.4 billion in items to the U.S. in 2024, in response to knowledge from the U.S. Commerce Consultant. Almost 80% of Bangladesh’s complete export earnings are powered by its garment trade, which additionally employs roughly 4 million individuals.
In the meantime, American exports to Bangladesh in 2024 have dipped to $2.2 billion, down 1.5% or about $34 million from 2023.
Cambodia
Foremost exports: Knit sweaters, footwear, journey items.
2024 export worth: $12.7 billion.
Commerce relationship worth: $13 billion.
Tariff: 36%.
Affect: Very similar to Bangladesh, the U.S. is the highest marketplace for Cambodia’s garment trade, in response to knowledge from the Observatory of Financial Complexity. The U.S. Commerce Consultant estimates Cambodian exports in 2024 reached $12.7 billion. The determine is up 9.3% or about $1.1 billion from 2023.
American exports to Cambodia in 2024 had been $321.6 million, a rise of 4.9% or roughly $14.9 million, from the 2023 figures.
TARIFFS WILL REVERT TO APRIL LEVELS IF COUNTRIES DON’T MAKE A DEAL BY AUGUST 1, BESSENT SAYS
Garment staff make garments at a manufacturing unit in Phnom Penh, Cambodia. (Wu Changwei/Xinhua by way of Getty Pictures / Getty Pictures)
Indonesia
Foremost exports: Palm oil, coal briquettes.
2024 export worth: $28.1 billion.
Commerce relationship worth: $38.3 billion.
Tariff: 32%.
Affect: Indonesia, the world’s prime exporter of palm oil, exported $28.1 billion to the U.S., in response to knowledge supplied by the U.S. Commerce Consultant.
Jakarta’s prime buying and selling associate is Beijing, adopted by Washington. In the meantime, American imports to Indonesia have elevated to $10.2 billion, up roughly $364 million from commerce offers in 2023.
CHINA TRADE WAR THREATENS US FIREWORKS INDUSTRY
Cargo containers sit stacked on container ships on the Port of Los Angeles, the nation’s busiest container port in San Pedro, California. (Getty Pictures)
Laos
Foremost exports: Electrical energy, potassic fertilizers, metals, copper ore.
2024 export worth: $803.3 million.
Commerce relationship worth: $844 million.
Tariff: 40%.
Affect: Laos, which is barely bigger than Utah, has a heavy export-driven economic system and relies upon largely on the Chinese language and Thai market. Trump initially proposed a 48% tariff on the southeast Asian nation in April however just lately dropped the responsibility to 40%.
In 2024, U.S. exports to Laos totaled roughly $40.4 million — about $5.9 million lower than the earlier 12 months. In contrast, U.S. imports from Laos had been considerably larger, reaching round $803.3 million, in response to knowledge supplied by the U.S. Commerce Consultant.
TRUMP URGED TO TAKE ON SOUTH KOREA OVER TECH REGULATIONS THAT TARGET US, SPARE CHINA.
Myanmar
Foremost exports: Petroleum fuel, dried legumes and rare-earth metallic compounds.
2024 export worth: $656.5 million.
Commerce relationship worth: $734 million.
Tariff: 40%.
Affect: Myanmar, like neighboring Laos, was additionally hit with a 40% U.S. tariff — the steepest charge imposed among the many 14 focused nations. Trump initially positioned a 44% proposed responsibility on Myanmar, which is concerning the dimension of Texas, again in April.
In 2024, U.S. exports to the southeastern Asian nation totaled roughly $77 million, down greater than half, or about $95.3 million, from final 12 months’s figures.
In the meantime, U.S. imports from Laos had been considerably larger, reaching round $656.5 million, in response to knowledge supplied by the U.S. Commerce Consultant.
TRUMP CONFIRMS AUGUST 1 DEADLINE FOR COUNTRIES TO REACH TRADE DEALS OR FACE TARIFF INCREASES
An worker works at a fish drying manufacturing unit in Yangon, Myanmar, Feb. 28, 2023. (Myo Kyaw Soe/Xinhua by way of Getty Pictures / Getty Pictures)
South Africa
Foremost exports: Gold, minerals and coal briquettes.
2024 export worth: $14.7 billion.
Commerce relationship worth: $20.5 billion.
Tariff: 30%.
Affect: South African President Cyril Ramaphosa was fast to push again on Trump’s 30% tariff, saying the determine is predicated on inaccurate commerce knowledge between the 2 nations. Ramaphosa added that he’ll proceed to have interaction in commerce talks with the Trump administration. The U.S. is South Africa’s second-largest buying and selling associate, behind China.
In 2024, U.S. exports to South Africa totaled roughly $5.8 billion — about $1.3 billion lower than the earlier 12 months. In contrast, U.S. imports from South Africa had been considerably larger, reaching round $14.7 billion, in response to knowledge supplied by the U.S. Commerce Consultant.
TRUMP CONFIRMS AUGUST 1 DEADLINE FOR COUNTRIES TO REACH TRADE DEALS
A employee makes latex sheets on the Klong Pang Rubber Fund Cooperative manufacturing unit in Trang province, Thailand, on Tuesday, Could 13, 2025. (Valeria Mongelli/Bloomberg by way of Getty Pictures / Getty Pictures)
Thailand
Foremost exports: Cars, electronics, equipment, agriculture.
2024 export worth: $63.3 billion.
Commerce relationship worth: $81.0 billion.
Tariff: 36%.
Affect: Thailand’s prime two buying and selling companions are the U.S. adopted by China. In 2024, Thailand exported $63.3 billion to the U.S. and imported $17.7 billion in American items. Bangkok has supplied extra commerce concessions to Washington as a way to avert the 36% tariff.
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