Summary
- O'Daily reported that President Trump notified 24 trading partners of tariffs of up to 50%.
- It was announced that the countries subject to tariffs include South Korea, Japan, the EU, and Mexico.
- There are concerns that, contrary to expectations, high tariffs far surpassing the existing 10% rate are being applied.
President Donald Trump of the United States has reportedly sent out letters in phases to a total of 24 trading partners, notifying them of high tariffs.
According to the digital asset (cryptocurrency) news outlet O'Daily on the 12th, President Trump sent letters regarding tariff hikes to governments around the world four times between the 7th and today. The tariff rates vary by country and reach up to 50%, with countries such as Mexico and the European Union (EU) included as targets.
The first round of letters, sent on the 7th, included 14 countries such as South Korea (25%), Japan (25%), Indonesia (32%), Thailand (36%), and Malaysia (25%). The second round on the 9th listed eight countries including Brazil (50%), Philippines (20%), and Algeria (30%). In the third round on the 10th, Canada (35%) was specified. Finally, today two more countries, Mexico (30%) and the EU (30%), were added as targets.
Some have voiced concerns that, contrary to previous expectations of a uniform tariff rate of around 10% for most countries, tariffs far exceeding those expectations have now been announced.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
