Trump announces new tariffs, including 30% on Sri Lankan imports

US President Donald Trump has unveiled a fresh set of tariff measures, with new import duties scheduled to take effect in August for countries that do not reach trade agreements with Washington.

The announced tariffs include a 30% duty on imports from Algeria, Libya, Iraq, and Sri Lanka, which Trump described as significant industrial competitors to the US. Additionally, products from Brunei and Moldova will face a 25% tariff, while a 20% levy will apply to goods from the Philippines.

These rates are in line with those proposed in April, although some adjustments have been made, including reductions in Iraq’s tariff from 39% and Sri Lanka’s from 44%.

During a meeting with African leaders at the White House, Trump highlighted trade as a tool for diplomacy, suggesting that economic cooperation could help resolve conflicts in regions such as South Asia and the Balkans.

Earlier this week, Trump had imposed a 35% tariff on Serbian imports, citing it as an example of using trade to encourage peace efforts.

Explaining the rationale behind the tariffs, Trump said they were based on trade imbalances and practical considerations. He also indicated that a letter would be sent soon to Brazil regarding potential tariffs, while adding that he would not impose duties on the African nations visiting him, including Liberia, Senegal, Gabon, Mauritania, and Guinea-Bissau, as he now considered them allies.

The latest measures are part of a broader tariff strategy, which initially included a 10% levy on most trading partners in April. Although higher rates were proposed for several countries, they were temporarily paused before these new announcements.

Trump also signaled upcoming tariffs on copper and pharmaceutical imports, continuing his administration’s push to address trade deficits through targeted duties.