Source: Mollie D. Sitkowski, Partner at Faegre Drinker Biddle & Reath LLP | July 7, 2025 

President Trump’s administration is ramping up trade pressure as the U.S. prepares to implement a new set of reciprocal tariffs. Originally set to take effect July 9, 2025—following a 90-day waiting period—the new tariffs have now been pushed to August 1, 2025, allowing time for possible trade agreements. 

Key developments: 

• Tariff “offer letters” have been posted on Truth Social, notifying countries of specific rates and inviting last-minute negotiations. 

• The letters specify that tariffs will stack with other duties (e.g., Section 232), and warn that transshipped goods will still face a higher rate. 

Announced Rates (as of July 7): 

• 25% – South Korea, Malaysia, Kazakhstan, Japan, Tunisia 

• 30% – South Africa, Bosnia 

• 32% – Indonesia 

• 35% – Serbia, Bangladesh 

• 36% – Thailand, Cambodia 

• 40% – Laos, Myanmar 

Additional Agreements (Pending Formalization): 

• Vietnam: 20% reciprocal 

• China: Up to 55% total (10% reciprocal + 20% IEEPA Fentanyl + Section 301) 

• UK: 10% reciprocal + 25% steel/aluminum (in effect since June 30 for autos/aircraft) 

Notably, no offer letter has been sent to the European Union or its member states as of July 7. While it is unclear whether the EU will be included in a future round of announcements, this omission may reflect ongoing negotiations or a strategic delay in targeting the bloc. 

President Trump also stated that any country aligning with BRICS will face an additional 10% tariff. 

Export Controls & Sanctions Highlights 

• China: U.S. rescinds “is informed” letters tied to chip design and ethane exports following a minerals deal. 

• Venezuela: General License 5D authorizes specific LPG shipments. 

• Iran: Sanctions hit oil networks linked to the IRGC-QF. 

• Hizballah: OFAC targets senior figures at Al-Qard Al-Hassan. 

What’s Next 

As the August 1 deadline approaches, businesses should closely monitor forthcoming Federal Register notices for final implementation details—especially regarding how new tariffs will interact with existing Section 232 duties and transshipment enforcement. The absence of an offer letter to the European Union raises questions about whether the bloc will be targeted later or handled through separate negotiations. Companies with global supply chains should review their exposure, assess compliance risks, and prepare for rapid adjustments should further trade actions be announced.