The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.

President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.

The Philippine government is viewing with concern the higher-than-expected 20-percent reciprocal tariff to be imposed by the United States starting next month, as announced by the Trump administration on Thursday.

The Philippines is concerned about the United States' decision to impose 20% tariffs on Philippine exports but will continue to negotiate, its economic affairs minister said on Thursday.

NEW YORK/WASHINGTON -- The U.S. will impose a 20% tariff on goods imported from the Philippines starting Aug. 1, President Donald Trump said in a letter revealed Wednesday, in his latest salvo against trade deficits with Southeast Asian nations.

The notices bring the total number of countries Trump has hiked tariffs on this week to 21. The higher rates are slated to take effect on August 1.

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,

India could pose stiff competition to Sri Lanka and the Philippines for nearly a fifth of their exports to the United States as both countries are facing high import duties under new US trade arrangement,

The Philippine economy is likely to be resilient to higher US levies but faces the risk of lower foreign investments amid the global uncertainty, according to S&P Global Ratings.

Countries like the Philippines and Singapore could benefit from tariff concessions if negotiations with the Trump administration progress favorably, according to Dutch financial giant ING Bank, which flagged the building pressure on Asian economies facing higher-than-expected post-Liberation Day tariffs.