In his new tariff rates, President Trump listed over 65 nations as well as the European Union.
A portion of the rates correspond to the information presented in previous “letters” that the president published earlier this month. Others are in line with the administration’s recently announced trade agreements.
According to the executive order published Thursday night, most nations will not see these rates go into effect for at least a week, even though the administration has stated for weeks that August 1 would be the new date for tariff implementation. Trump is still negotiating with a number of nations and has frequently changed trade deadlines.
Within seven days, countries that are not on the order list will be subject to an additional 10% fee.
Other exclusions consist of:
-
Canada
: The White House says ina separate executive order
amended on Thursday that goods from Canada that are not covered by the USMCA agreement will be subject to 35% tariffs beginning Friday. The administration says Canada is not doing enough to combat illicit drug trafficking and blames it for retaliating against U.S. actions to address the issue.
-
China
: Trump has spoken positively about negotiations with China in recent days. The order issued Thursday said China will be subject toa prior order
for the time being.
-
Mexico:
The White House said earlier Thursday that a new tariff rate on goods fromMexico is on pause
while negotiations continue.
According to the White House, transshipment nations that try to avoid taxes by shipping their goods to the United States through other nations will be subject to an additional 40% tariff.
U.S. importers pay the tariffs directly to the U.S. government, even though Trump has framed them as a cost that other nations bear. While some of those expenses can be covered by foreign companies, tariffs have generally resulted in higher pricing for American companies and consumers.
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