Trump said the United States would impose tariffs of 25% on goods from Tunisia, Malaysia and Kazakhstan, with levies of 30% on South Africa, Bosnia and Herzegovina, climbing to 32% on Indonesia, 35% on Serbia and Bangladesh, 36% on Cambodia and Thailand; and 40% on Laos and Myanmar. A deal with India was close, Trump added.

Trump warned Japan and South Korea against retaliation by increasing their own import taxes, saying that the US would further increase the tariffs over and above the already imposed 25 percent.

US President Donald Trump has opened a new phase in the trade war he launched this year, telling partners, from powerhouse suppliers such as Japan and South Korea to minor players, that they face sharply higher tariffs from 1 August.