<ul data-eligibleForWebStory="false"><li>US President Donald Trump has imposed a fresh round of tariffs on seven countries including Sri Lanka, Philippines, Brunei, Moldova, Algeria, Iraq, and Libya, with varying percentages set to come into effect from Aug. 1.</li><li>These new tariffs are part of a larger wave of tariffs targeting 21 countries, with rates ranging from 20% to 40%, impacting countries such as Japan, South Korea, and Indonesia.</li><li>Trump is open to negotiations with the affected countries before the Aug. 1 deadline, but emphasized that the tariffs will not be extended beyond that date.</li><li>The rationale behind the tariffs, as stated by Trump, is to address years of unfavorable trade imbalances and barriers, with the hope of correcting unsustainable trade deficits against the US.</li></ul>

Trump Tariffs On 21 Countries: Sri Lanka, Japan, Indonesia, South Africa And More — Check Full List

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