Trade War: Donald Trump put the executive order up to 41% – what is known
US President Donald Trump on Friday signed an executive order imposing high tariffs on a dozen major trading partners worldwide. Tariff rates increase by 41% on Syria to 35% in Canada.The new tariff regime, which is effective on August 7, aims to unbalance the long -running trade deficit, which has reduced the US economy and national security.It set tariff rates for 68 individual nations and 27-member European Union. Countries will face a default 10% baseline tariff. According to a senior official, these rates are based on trade differences of each country with the US and its regional economic status.The trade deficit nations with the US will now face a minimum of 15% tariff, which will affect around 40 countries globally.While 15% of tariffs serve as a new base line for business-dotting countries, more than a dozen countries will face significantly higher rates, either to fail to interact on new terms with the US or because they are among the largest deficit people.The biggest increase in:
- Syria will be hit with 41% tariff.
- Laos and Myanmar face each at a rate of 40%.
- Switzerland tariff increases by 39%.
- Iraq and Serbia will pay 35%.
- Algeria, Bosnia and Herjegovina, Libya and South Africa all have to face 30% tariffs.
Canada, which was previously subject to 25% tariff, will now face a rate of 35%. The move highlighted the push for Washington’s widespread trade recurrence.For Mexico, the US President said that the goods entering the US would still face 25% tariffs, a rate that he is associated with lax smuggling. He said that cars would be taxed at 25%, while the imports of copper, aluminum and steel will have to face 50% tariffs during the ongoing conversation.Trump further stated that Mexico would remove its “non-tariff trade barriers”, although he did not give any details. Some products are protected under the 2020 US-Maxico-Canada Agreement (USMCA), Trump secured during his first term. However, he now seems to be less assistant to the treaty, which is due to the Renaissance next year. Earlier this year, he imposed fresh tariffs on both Mexico and Canada, which was one of his first major steps after returning to office.
Delayed implementation
Although initially it was expected to be immediately effective, the White House delayed the enforcement of the new tariff on August 7, giving us customs and border security time to update our system for new duties.Here is a list of countries that will be affected under the order, as well as with their adjusted mutual tariffs:
| country area | Adjusted mutual tariff |
|---|---|
| Afghanistan | 15% |
| Algeria | 30% |
| Angola | 15% |
| Bangladesh | 20% |
| Bolivia | 15% |
| Bosnia and Herzegovina | 30% |
| Botswana | 15% |
| Brazil | 10% |
| Brunei | 25% |
| Cambodia | 19% |
| Cameron | 15% |
| Papers | 15% |
| Costa Rica | 15% |
| Cot de evoire | 15% |
| Congo democratic republic | 15% |
| Ecuador | 15% |
| Equatorial guinea | 15% |
| European Union | 0%-15% |
| Falkland Islands | 10% |
| Fiji | 15% |
| Ghana | 15% |
| Guyana | 15% |
| Iceland | 15% |
| India | 25% |
| Indonesia | 19% |
| Iraq | 35% |
| Israel | 15% |
| Japan | 15% |
| Jordan | 15% |
| Kazakhstan | 25% |
| Laos | 40% |
| Lisoto | 15% |
| Libia | 30% |
| Leuchtensteine | 15% |
| Madagascar | 15% |
| Malawi | 15% |
| Malaysia | 19% |
| Mauritius | 15% |
| Moldova | 25% |
| Mozambic | 15% |
| Myanmar (Burma) | 40% |
| Nomad | 15% |
| Nauru | 15% |
| New Zealand | 15% |
| Nicaragua | 18% |
| Nigeria | 15% |
| North macedonia | 15% |
| Norway | 15% |
| Pakistan | 19% |
| Papua New Guinea | 15% |
| Philippines | 19% |
| Serbia | 35% |
| South Africa | 30% |
| South Korea | 15% |
| Sri Lanka | 20% |
| Switzerland | 39% |
| Syria | 41% |
| Taiwan | 20% |
| Thailand | 19% |
| Trinidad and Tobago | 15% |
| Tunisia | 25% |
| turkey | 15% |
| Uganda | 15% |
| United kingdom | 10% |
| Vanuatu | 15% |
| Venezuela | 15% |
| Vietnam | 20% |
| Jambia | 15% |
| Zimbabwe | 15% |
