Kathmandu. US President Donald Trump has announced additional tariffs on goods from 14 countries around the world, including Japan and South Korea, effective from August.

Goods from Japan and South Korea will be subject to a 25 percent tariff. He has also warned many other world leaders that new tariff standards will be prepared from August 1.

The scope of the tariffs for many countries was the same as he announced in April. Trump, while announcing the new tariff plan on social media, wrote, “It could be more or less as our relationship goes up and down.”

Trump has claimed that with this announcement, domestic production in the US will be boosted. Despite Trump’s claim, analysts have predicted a decline in trade and volatility in the stock market. Toyota shares fell by four percent on Monday.

Last year, Japan sent $148 billion worth of goods to the US. Japan is the fifth largest exporter of goods to the US. More goods are sent to the European Union, Mexico, China and Canada than to Japan. South Korea is also in the top 10.

Along with Japan and South Korea, the new tariff range announced by Trump on Monday includes a 40 percent tariff on goods from Myanmar, 36 percent on goods from Cambodia and Thailand, and 35 percent on goods from Serbia and Bangladesh.

A 32 percent tariff has been announced on goods from Indonesia, 30 percent on goods from South Africa, and 25 percent on goods from Malaysia and Tunisia.

Trump has said that he will announce it after considering the trade policies of other countries that have caused the United States losses.

Meanwhile, the United States is holding talks with Britain and Vietnam and is also preparing for talks with China. The United States is now getting closer to India. (Agency)