Donald Trump sent letters to 14 countries, mainly in Asia, informing them that higher import tariffs will come into effect on August 1 unless they reach a deal with the United States. It is the second time the US president has set a deadline after he postponed tariffs on almost all countries in April for 90 days. Countries that have large trade imbalances with the United States have been key targets, including Japan ($68.5 billion surplus in 2024), South Korea ($66 billion), Thailand ($45.6 billion) and Indonesia ($17.9 billion).
