Trump slaps tariffs on Asian trade partners with 25% for M'sia, South Korea & Japan, Aug. 1 deadline

A number of the U.S.'s trade partners in Asia have received U.S. President Donald Trump's warning letter on tariff hikes, as they have not yet negotiated a trade deal with the U.S., according to The Straits Times.

Samples of letters to the countries were posted by Trump on Truth Social, containing the terms of the tariffs.

Japan and South Korea

Trump's East Asian allies Japan and South Korea were the first to receive their letters, and both face a 25 per cent tariff rate.

This is a one per cent increase for Japan from the previously announced rate in April, while South Korea's rate has been maintained.

Economists that Nikkei Asia spoke to said the Japanese economy would be further squeezed if the tariff rate on Japanese exports remained unchanged, with Japanese companies likely unable to meet union demands for higher wages for workers.

Trump threatened additional tariffs on goods transshipped through countries, in line with U.S. policy to target Chinese exports, and warned that if other countries retaliated with tariffs of their own, the U.S. would simply hike their tariffs.

ASEAN

Asean countries Cambodia, Laos, Malaysia, Indonesia, Myanmar and Thailand have also received their letters.

Cambodia, whose previous tariff rate was the highest among Asean countries at 49 per cent, will now face a 36 per cent rate on Aug. 1, if they fail to negotiate a trade deal with the U.S. by then.

Laos, who previously had the second highest Asean tariff rate at 48 per cent, had a notable reduction in their rate to 40 per cent.

Myanmar has also been granted a reduction, from 44 per cent previously to 40 per cent on Aug. 1.

Malaysia has been warned on a slight increase on tariffs at 25 per cent, as compared to their previous 24 per cent.

Indonesia and Thailand's tariff rates remains unchanged from April, at 32 per cent and 36 per cent respectively.

Other Asian countries, including Singapore, have supposedly not yet received letters from the White House.

Foreign Minister Vivian Balakrishnan had previously said that Singapore is still in the process of negotiating a trade deal with the U.S., during his visit with U.S. Secretary of State Marco Rubio in Washington, D.C., on Jun. 4.

Top images via Donald J. Trump/Facebook & realdonaldtrump/Truth Social