President Trump has announced increased tariffs on exports from the Philippines, Brunei, Moldova, Algeria, Iraq and Libya, effective August 1.

Donald Trump has sent official letters to the leaders of six countries announcing the imposition of tariffs of between 20% and 40% on their exports to the US as part of an aggressive trade strategy. The letters, revealed on the Truth Social platform, follow similar communications to 14 other countries. The new tariffs will go into effect on August 1, with no possibility of delay, according to Trump. The move continues a campaign that began in April and has generated volatility in international markets.