How Trump’s latest tariffs on allies, rivals could fund his ‘Big Beautiful Bill’

As the ink on US President Donald Trump’s signature “One Big Beautiful Bill” barely dried, he turned his focus back to tariffs, ending a three-month lull in global trade tensions.

With the pause on April’s “reciprocal tariffs” expiring on July 9, Trump has announced new rates on 25 economies over the past week – including both neighbours and long-time allies.

In this explainer, the Post wraps up the latest developments and explores what lies ahead.

Which countries have received Trump’s tariff letters?

The European Union and Mexico are the latest. On Saturday, the US president threatened to impose 30 per cent duties on both.

That followed earlier announcements of 35 per cent tariffs on Canada, 50 per cent on Brazil, 25 per cent on Japan and South Korea, and 20 per cent on the Philippines. He also unveiled tariffs for several developing economies, particularly Asian countries neighbouring China.

The deadline for all negotiations is August 1.

Taiwan, which faced a 32 per cent “reciprocal tariff” in April, has not yet received a letter, while the island’s officials have said talks are entering a “crucial moment”.

South China Morning Post