A few hours before the tariffs of President Trump against dozens of countries were to take effect on Friday, the White House took the next step in its plan to restructure global trade by publishing new tariffs for more than sixty US trading partners, revising the April 2 tariffs.
The decree sets tariffs ranging from 10% to 41% on goods from 67 countries, Taiwan, and the European Union. They will take effect on August 7, although a few months ago he set a deadline of August 1.
The highest tariffs were imposed on Syria (41%), Laos (40%), Myanmar (40%), Switzerland (39%), Iraq (35%), Serbia (35%), South Africa (30%), Algeria (30%), Bosnia and Herzegovina (30%), Libya (30%).
For some countries, the tariffs announced by the US president on April 2 were reduced. Among such states are Taiwan (from 32% to 20%), South Korea (from 30% to 15%), Japan (from 24% to 15%). Tariffs on many goods from the EU were also reduced from 20% to 15%.
By a separate decree, Trump increased tariffs on exports from Canada from 25% to 35%, accusing it of failing to stop the flow of fentanyl across the border. Meanwhile, Mexico, the second important US trading neighbor, received a 90-day reprieve. An exception remains for China, for which the "tariff truce" with the US expires on August 12.
India received 25%, as Trump recently criticized the country's government. The largest items of Indian imports to the US are electronics and pharmaceuticals.
As The New York Times writes, it is expected that the steps of the Trump administration will cause a new wave of uncertainty for US trading partners, who now have a week to negotiate tariff reductions before the new deadline of August 7.
Photo: Reuters