(Image source from: Twitter.com/RapidResponse47)

US President Donald Trump reignited his trade conflict on Monday by presenting the first of many letters that threaten to raise tariffs on 14 trading nations. The highest tariff of 40 percent would be applied to Myanmar and the Lao People's Democratic Republic. Nevertheless, the US leader mentioned he is still willing to negotiate further, suggesting he might adjust his August 1 deadline for reaching agreements.

Trump also stated that, "for the most part," he is satisfied with simply increasing tariffs, even though he mentioned he is still discussing terms, including discussions with India which might conclude soon.

"We have a deal with the United Kingdom, we have a deal with China, we are close to finalizing a deal with India. For others we spoke with, we don't believe a deal will be possible. So we just send them a letter," the Republican noted.

Trump hinted at the chance of more negotiations and possible delays, claiming the August 1 deadline is "not 100 percent firm," which suggests he is willing to adjust the rates further. "Maybe make some changes, depending. We will not be unfair," Trump expressed, indicating he would positively consider countries that continue to make further concessions. So far, the US has only finalized two agreements, one with Britain and another with Vietnam. Trump also cautioned that if trading partners retaliate, the US will respond similarly. "If you decide to increase your Tariffs for any reason, then whatever amount you raise them by will be added onto the 25 percent that we charge," he stated in letters released on his Truth Social platform directed at Japan and South Korea.

The increased tariffs will start on August 1 and importantly will not be combined with previously set sector tariffs like those on cars and steel and aluminum. This means, for example, that Japanese car tariffs will stay at 25 percent, instead of merging with the existing 25 percent auto sector tariff, resulting in a jump to 50 percent with the new reciprocal rate, as seen with some earlier tariffs from Trump. The tariff for South Korea remains the same as Trump initially declared, whereas the rate for Japan is one point higher than what was announced on April 2. A week later, he had set a limit on all reciprocal tariffs at 10 percent until July 9. Countries have been under pressure to finalize agreements with the US since Trump launched a global trade conflict in April, which has disrupted financial markets and led governments to try to safeguard their economies. Trading partners received an extension as Trump signed an executive order on Monday, pushing the negotiation deadline from Wednesday to August 1.

List Of Countries Trump Sent Letters:

Laos- 40 per ent tariffs
Myanmar- 40 percent tariffs
Thailand- 36 percent tariffs
Cambodia - 36 percent tariffs
Bangladesh - 35 percent tariffs
Serbia - 35 percent tariffs
Indonesia - 32 percent tariffs
South Africa- 30 percent tariffs
Bosnia and Herzegovina- 30 percent tariffs
Malaysia- 25 percent tariffs
Tunisia- 25 percent tariffs
Japan- 25 percent tariffs
South Korea- 25 percent tariffs
Kazakhstan- 25 percent tariffs