NASHVILLE, TN – The U.S. is imposing new tariffs on imports from 14 countries starting August 1.
According to CNBC, President Donald Trump shared letters sent to leaders of countries like Japan, South Korea, Malaysia, and Thailand. Tariff rates range from 25 to 40 percent, depending on the country.
The new duties apply to a broad range of goods but don’t specifically mention agriculture. Still, global trade changes could influence ag input costs and export competition.
A previous July 3 deadline was delayed to August 1 by executive order. Additional announcements are expected soon.