On Wednesday, American President Donald Trump sent letters to the leaders of six countries, including the Republic of Moldova, threatening them with customs duties of up to 30% on goods exported to the USA. The measure is set to take effect from August 1.
Among the recipients of the letters are the Republic of Moldova, the Philippines, Brunei, Algeria, Libya, and Iraq, reports CNN.
The new tariffs are scheduled to come into effect on August 1, pending negotiations.
The announced tariffs for Moldova, Iraq, and Libya are lower than those communicated in April, while the rates for the Philippines and Brunei have been increased compared to previous announcements, as mentioned by the American television station.
The United States imported goods worth $26 billion from these six countries last year, which is less than 1% of the total value of American imports of $3.2 trillion.
In the letters he sent, Trump explained that he has an issue with the U.S. trade deficits with these countries, meaning that America imports more goods than it exports to them. He specified that the tariffs are a response to policies that he believes hinder the sale of American products abroad.
Trump encouraged world leaders to produce goods in the United States to avoid tariffs. At the same time, he warned that if the targeted countries respond by imposing tariffs on American products, he will add these tariffs to the rate applied to goods from those countries.
T.D.