President Donald Trump sent letters to 14 countries Monday outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1. In the letters, which were posted on Truth Social, Trump warned countries that they would face even higher tariffs if they retaliated by increasing their own import taxes.

President Trump posted letters to the leaders of Tunisia, Bosnia and Herzegovina, Indonesia, Bangladesh, Cambodia, Thailand and Serbia, notifying them of tariff rates that they will have to pay on Aug.

India's export sectors such as apparel and footwear are expected to gain a competitive edge in the US market following Washington's decision to impose higher tariffs on over a dozen countries, including Bangladesh and Thailand.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries