President Donald Trump on Wednesday introduced larger tariff charges for extra international locations in a flurry of social media posts.
The newest spherical of Trump’s commerce bulletins included Libya, Iraq, Algeria, Moldova, Brunei and the Philippines.
The Philippines was charged the bottom tariff fee of 20%. Brunei and Moldova had been every hit with charges of 25%, whereas Trump imposed charges of 30% on Algeria, Iraq and Libya.
The bulletins come after Trump just lately mentioned that if 14 international locations don’t strike a commerce deal with the U.S. by the start of subsequent month, they are going to revert to ranges set in April.
In April, Trump introduced a “reciprocal” tariff coverage below which U.S. tariffs on items imported from overseas international locations can be primarily based on the dimensions of America’s bilateral commerce deficit with these international locations.
Fox Information Digital’s Sophia Compton, Amanda Macias and Michael Dorgan contributed to this report.
It is a breaking information story; examine again for updates.