Sri Lanka, July 9 -- US President Donald Trump on Wednesday announced a fresh round of tariffs targeting seven countries -- Sri Lanka, Algeria, Brunei, Iraq, Libya, Moldova and the Philippines.

Trump took to his social media platform, Truth Social, to share official tariff letters sent directly to the heads of state of these nations. The steepest tariffs, at 30%, have been levied on Iraq, Algeria and Libya.

These tariffs will come into effect from August 1. This move comes just a day after Trump unveiled a sweeping round of import tariffs of up to 40% on goods from 14 nations, including key trade players such as Bangladesh, Japan, and South Korea. The US President appears to be ramping up his tough-on-trade stance as part of his broader...