Trump makes new tariff threats from the Philippines to Moldova as his trade letter tally reaches 20

Key Points

• It seems likely that Donald Trump has issued new tariff threats to six countries, including the Philippines and Moldova, with rates from 20% to 30%, effective August 1, 2025, bringing the total trade letters to 20.

• Research suggests these tariffs aim to address trade deficits and boost U.S. manufacturing, but there is controversy, with critics warning of potential inflation and supply chain disruptions.

• The European Union is actively negotiating a trade deal, showing increased cooperation, while the Philippine government remains optimistic about negotiations, hoping for a positive outcome.

Tariff Threats and Countries Affected

Donald Trump has recently threatened tariffs on six countries: the Philippines (20%), Brunei (25%), Moldova (25%), Algeria (30%), Iraq (30%), and Libya (30%), with these rates set to take effect on August 1, 2025. This follows 14 earlier letters, making a total of 20 trade letters sent. The Philippines, the largest trading partner among these, ranks about 30th in U.S. trade value, and some rates, like the Philippines' (up from 17% to 20%), have seen slight increases from April announcements.

Market and Economic Implications

These tariffs are part of Trump's strategy to reduce trade deficits and encourage U.S. manufacturing. However, there are concerns that they could act as taxes on U.S. consumers, potentially raising prices and disrupting global supply chains. Markets have shown muted reactions, possibly due to uncertainty about full implementation, as negotiations continue.

International Reactions

The European Union is working towards a trade deal by the end of July 2025, with Ursula von der Leyen emphasizing readiness for all scenarios and noting recent cooperation with Trump. The Philippine government, as of July 8, 2025, is optimistic about negotiations on the paused 17% tariff, hoping for a beneficial outcome and feeling well-positioned due to economic cooperation, while also preparing for possible fallout.

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Survey Note: Detailed Analysis of Trump's Tariff Threats and Global Reactions

This note provides a comprehensive overview of Donald Trump's recent tariff threats, targeting six countries from the Philippines to Moldova, as his trade letter tally reached 20 by July 9, 2025. The analysis covers the specifics of the tariffs, economic implications, and international reactions, drawing from recent news reports and official statements.

Tariff Details and Context

As of July 9, 2025, Donald Trump has issued tariff threats to six countries, with rates ranging from 20% to 30%, effective August 1, 2025. The countries and their respective tariff rates are detailed in the following table:

Country	Tariff Rate (%)
Philippines	20
Brunei	25
Moldova	25
Algeria	30
Iraq	30
Libya	30

This brings the total number of trade letters to 20, following 14 letters issued earlier in the week. The rates largely align with April announcements, though some adjustments were made, such as the Philippines' rate increasing from 17% to 20%. The Philippines, being the largest trading partner among these, ranks about 30th in U.S. trade value, indicating a focus on smaller trading partners in this round.

Trump's strategy, as articulated in various statements, aims to address trade deficits and encourage U.S. manufacturing. For instance, a Yahoo Finance article from July 9, 2025, notes, "This [trade] Deficit is a major threat to our Economy and, indeed, our National Security!" (URL: https://finance.yahoo.com/news/trump-makes-new-tariff-threats-from-the-philippines-to-moldova-as-his-trade-letter-tally-reaches-20-161147546.html).

Economic Implications and Market Reactions

The economic implications of these tariffs are significant and controversial. Critics, including economists, warn that they could act as taxes on U.S. consumers, potentially raising prices and disrupting global supply chains. A Bloomberg article from July 9, 2025, highlights, "The barrage of letters and fresh tariff threats marked the latest turn in a dizzying trade agenda that has spurred volatility in markets and raised fears of inflation" (URL: https://www.bloomberg.com/news/articles/2025-07-09/trump-unveils-latest-tariff-rates-with-the-philippines-at-20). Markets have shown muted reactions, possibly due to skepticism about full implementation, as negotiations are ongoing, with a delay from an initial July 9 deadline to August 1 suggesting flexibility, potentially influenced by Treasury Secretary Scott Bessent’s push for more time to secure deals.

European Union Response

The European Union is actively engaged in negotiations to avert these tariffs. According to a Reuters article from July 9, 2025, the EU aims to seal a trade deal by the end of July 2025, potentially before the August 1 deadline. European Commission President Ursula von der Leyen stated, "We stick to our principles, we defend our interests, we continue to work in good faith, and we get ready for all scenarios" (URL: https://www.reuters.com/world/asia-pacific/eu-seeks-trade-deal-with-trump-this-month-new-tariff-notices-due-2025-07-09/). Trump has noted the EU has become "much more cooperative" recently, and there is an expectation that the EU will be informed of the specific tariff rate within two days. Italian Economy Minister Giancarlo Giorgetti warned that talks are "very complicated" and could continue up to the deadline, indicating the complexity of reaching an agreement.

Philippine Government Reaction

The Philippine government's reaction, as of July 8, 2025, is one of optimism and preparedness. According to the Philippine News Agency (PNA), the government expressed hope for a positive outcome in negotiations with the U.S. on the paused 17% reciprocal tariff on Philippine exports, believing it will benefit the country and economy. Palace Press Officer Claire Castro stated, "We are in a good place in our trade deal negotiations due to our cooperation for economic development," and noted readiness for possible fallout (URL: https://www.pna.gov.ph/articles/1253794). This stance reflects a proactive approach, given the Philippines' inclusion in the latest tariff threats at a 20% rate, up from the previously paused 17%.

Broader Context and Global Reactions

The tariff threats have sparked varied reactions globally, with Asian allies expressing frustration, as noted in a Politico article from July 8, 2025, which mentioned, "America's Asian trading partners are reacting to President Donald Trump's latest threats of tariffs with frustration and disbelief" (URL: https://www.politico.com/news/2025/07/08/trumps-tariff-letters-roil-asian-allies-00443008). The Bank of England has also warned of risks to the UK's financial system due to rising global tensions and unpredictable U.S. tariffs, as reported by News18 on July 9, 2025 (URL: https://www.news18.com/world/donald-trump-us-tariffs-live-updates-copper-pharma-duties-liveblog-9430209.html).

This comprehensive analysis underscores the complexity and controversy surrounding Trump's tariff strategy, with significant implications for global trade and economic relations, as observed on July 9, 2025.

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