US President Donald Trump speaks during a multilateral lunch with visiting African Leaders in the State Dining Room of the White House in Washington, DC, on July 9, 2025.

President Donald Trump has sent tariff letters to ASEAN countries, with most charting lower duties except Malaysia. Andrea Heng and Susan Ng decode the tariff rates and the influencing factors his administration may have considered for Southeast Asian trade partners with Priyanka Kishore,

President Trump posted letters to his Truth Social platform Wednesday outlining tariff levels for seven countries. Trump said he would levy 30% tariffs on Libya, Iraq, and Algeria, effective Aug. 1. Moldova and Brunei will get 25% tariffs,

Trump’s new tariff letters have sent shockwaves across global markets as he targets 22 countries with tough new trade threats just weeks before the August 1 deadline. From close allies like Japan and South Korea to BRICS nations like Brazil and South Africa,

It shows that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs.

US stocks trimmed gains on Wednesday after President Trump unveiled more tariff letters directed at US trading partners, while AI chip maker Nvidia (NVDA) became the first company to ever touch a $4 trillion market cap.