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.

Trump said on Monday that the US would impose 25 per cent tariffs on Tunisia, Malaysia and Kazakhstan; 30 per cent on South Africa, Bosnia and Herzegovina; 32 per cent on Indonesia; 35 per cent on Serbia and Bangladesh; 36 per cent on Cambodia and Thailand and 40 per cent on Laos and Myanmar.