Trump "punishes" Canada with 35% tariffs - US announces taxes from 10% to 40% for many global partners
The White House continued President Trump's plan to reshape the global trade landscape, unveiling new tariffs officially authorized by executive order. The measures range from 10% to 40% and include nearly every global trading partner.
The decision sets a 35% tariff on Canada (up from 25% currently), as well as duties of over 30% on some countries like South Africa and Switzerland. But almost all of these new measures (except for Canada) will not take effect for seven days, instead of a Friday deadline that Trump had previously set.
The new tariff rate on Canada comes under an order focused on illegal drugs and will take effect Friday, as originally planned. For other countries, the order also allows for an additional delay, with lower tariffs, applied to goods loaded on ships before Aug. 7 that then enter the United States before Oct. 5.
India, after initial high hopes for a deal have faded in recent weeks, is expected to face a 25% rate. Taiwan is another major US trading partner and is expected to see a 20% measure.
The White House document also confirmed some of the parameters of recent agreements with other major trading partners, including a 15% tariff for the European Union, South Korea and Japan.
It was also confirmed that 19%-20% rates are on the horizon for a number of Southeast Asian countries and an unchanged 10% tax has been set for the United Kingdom.
Dozens of other smaller trading partners saw their tariff rates increase to 15% from 10%, with several countries not included in the announcement. Those excluded countries included many countries with which the United States currently has a trade surplus. They are set to face a 10% tariff, although Trump's comments in recent days suggested that 15% would be the new minimum.
The White House also plans 50% tariffs on Brazil, which are expected to take full effect a day before the measures for other countries.
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