The U.S. is set to place hefty tariffs on several big energy producers—Algeria, Brazil, Iraq and Libya. So why do oil traders seem unbothered? For one thing, the executive order that accompanied Trump's April "Liberation Day" tariffs exempted energy and energy products.

The U.S. president is posting copies of separate letters addressed to Brunei, the Philippines, Iraq, Algeria, Moldova and Libya. Each country’s letter has its own tariff rate: 30% on Algeria, 25% on Brunei,

It shows that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs.

Donald Trump issued tariff letters to several countries, including the Philippines, Brunei, Moldova, Algeria, Libya, and Iraq, warning of reciprocal duties starting August 1, 2025. These actions follow Trump's earlier announcement of tariffs for fourteen other nations.