New Delhi, July 8 -- US President Donald Trump on Monday (July 7) sent formal letters to a number of countries, including Japan and South Korea, announcing new tariffs ranging from 25% to 40% on imports, effective August 1. The move marks a renewed push to force new trade deals before an earlier-imposed July 9 deadline.

The letters cited "significant trade deficits" and warned of penalties for any retaliatory tariff hikes, stating such moves would be matched "on top of the 25%" rate. However, the letters also left room for negotiation, with Trump saying the US would "perhaps consider an adjustment" if trade barriers are removed.

Starting August 1, 2025, the US will impose a 30% tariff on all products imported from Bosnia and Herzegovina...