U.S. imposes new tariffs on Tunisia and 13 other nations
U.S. President Donald Trump has intensified his global trade offensive by imposing steep tariffs on 14 countries, including a 25% tariff on Tunisian exports starting August 1st, as reported by Tunisie Numerique on July 7th.
The new duties, announced in Washington, marks a significant escalation in trade tensions and expands the scope of the protectionist strategy Trump launched in April.
Other affected nations include Japan, South Korea, South Africa, Laos, Malaysia, Serbia, Kazakhstan, Cambodia, Bangladesh, Thailand, Bosnia, and Myanmar. In letters shared via his Truth Social platform, Trump warned the targeted countries not to retaliate. “If, for any reason, you decide to raise your tariffs, we will add the same percentage to our 25% rate.”
Only the UK and Vietnam have negotiated exemptions from Trump’s earlier blanket 10% tariff. On the same day as the announcement, Trump extended the deadline for further trade negotiations to August 1st.
Markets responded sharply. The S&P 500 dropped 0.8%, the steepest fall in weeks. Toyota and Honda shares fell 4% and 3.9% respectively. The U.S. dollar rose against both the yen and the won. “The tariff rhetoric has cut the market’s momentum,” said Brian Jacobsen, Chief Economist at Annex Wealth Management.
Tunisia, now included in the expanding list of countries hit by Trump’s tariffs, risks losing competitiveness in key export sectors like agri-food, textiles, and handicrafts, could significantly deepen the countries financial woes, and delay development plans.
While Tunis has yet to issue an official response, analysts urge an immediate reassessment of trade policy and rapid diplomatic engagement with Washington.
Trump also threatened the BRICS nations with further duties and warned the EU remains under review, despite recent encouraging talks.
Tunisie Numerique, BBC, Maghrebi.org, The Guardian
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