US President Donald Trump signed an extensive executive order on Thursday, which imposed mutual tariffs ranging from 10% to 41% on US imports from a wide range of countries, which dramatically transformed the US business with less than 100 days to the presidential election.
The executive order would have new tariffs on a wide line of US business partners who will come into effect in seven days, ie 7 August – another step in its business agenda that will test the global economy and alliance.
The Directive promotes different levels of tariffs on dozens of business partners on the basis of perceived imbalance in bilateral business conditions and their willingness to participate in the US on both economic and national security issues.
The order issued on Thursday is based on the earlier announcement of Donald Trump on the national emergency situation on the basis of an executive order 14257, which stated that the persistent business deficits of the United States represent a “unusual and extraordinary threat” for national security.
India, Canada, Tai -wan among the main economies
According to the new order now exported to the USA from India attracts 25% tariff, while Taiwan will face 20% and South Africa 30%. These new rates have immediate effect and exceptions are governed by existing trade framework.
With the most significant change, Canada will increase its rate to 35% of the previous 25% from August 7, although the goods covered by the United States Agreement-Mexiko-Kanada (USMCA) will remain exempted.
Another country faces steep duties from Trump Govt
Several other nations were hit by new fees in the updated tariff schedule:
- Pakistan: 19%
- Bangladesh and Vietnam: Every 20%
- Cameroon, Chad, Israel, Turkey, Venezuela and Lesotho: Every 15%
- Switzerland: 39%, the steepest of all targeted countries
These modifications come in the middle of the growing concerns of US trade officials about what the White House is called “The continuing lack of reciprocity in our two -sided business relationships”.
Minimum global tariff floor at 10%
Despite the previous speculation that the basic tariff could increase to 15% or higher, the White House has confirmed that the minimum global customs tariff rate will remain 10%, according to the factor sheet on Thursday.
The management also revealed a detailed list of countries and their relevant tariff rates. However, it remains unclear how many of them receive a minimum 10% duty and how much it will face higher rates.
Mexico gave a 90 -day breath
Shortly before the closing on Friday, Trump said he would enter the 90 -day negotiating period with Mexico, one of the largest business partners in the country, with the current 25% of the tariff rates that remain in place, of 30% threatened.
“We avoided enlargement of the tariff announced tomorrow and got 90 days to build a long -term agreement via dialogue,” wrote Mexican leader Claudia Sheinbaum O X after a call with Trump that he called “very successful” to know each other.
Trump says tariffs based on intelligence
In his formal justification, President Trump said that this step is governed by “updated intelligence and recommendations from higher officials” and added that the goal is to repair the re -balancing and promote fair trade.
“Some business partners offered conditions that, in my opinion, do not sufficiently engage in imbalance,” Trump said.
Others added: “Failed to engage in negotiations or take adequate steps to comply with the United States on economic and national security matters.”
The administration indicated further revisions of tariffs in the coming weeks, especially for countries that have to complete business agreements with the US before 1 August.
(Tagstotranslate) Executive order
