Trump sets new tariffs on dozens of countries’ exports

Trump, the president of the United States, has approved an executive order that will reseal “reciprocal tariffs” on US imports from dozens of nations and locations, starting at 10 percent to 41 percent.

Trump also signed an executive order late on Thursday that increased tariffs on some Canadian goods, with the White House accusing Ottawa of failing to “cooperate in reducing the ongoing flood of fentanyl and other illicit drugs” entering the US.

The US listed 69 trading partners and their respective “adjusted” tariff rates in a statement released on Thursday titled “Further Modifying the Reciprocal Tariff Rates.”

Exports to the US from some of Washington’s biggest trading partners, including Australia and the UK, will be subject to the standard 10% price.

As negotiations for a slow-moving trade agreement drag on, higher rates have been imposed on other important trading partners, including Taiwan and India, which have a 25% share.

In a statement announcing the reimposition of the tariffs on the White House website, Trump cited the “continued lack of reciprocity in our bilateral trade relationships.”

He said, “I have determined that imposing additional ad valorem duties on the products of some trading partners is necessary and appropriate to deal with the national emergency that was declared in Executive Order 14257.”

A fact sheet about the rising tariff rate for Canada was also published by the White House. Trump lamented “Canada’s continued inaction and retaliation” in the release regarding the “flow of illicit drugs” into the US via its northern border.

The White House stated that “President Trump felt it was necessary to increase Canada’s tariff from 25% to 35% in order to effectively address the existing emergency,” adding that the new rates will go into effect on August 1.

According to the fact sheet, no tariffs would be applied to goods that meet the United States-Mexico-Canada Agreement (USMCA)’s (Mexico-Canada) requirements.

Trump declared a national emergency under the International Emergency Economic Powers Act (IEEPA), citing a “public health crisis caused by fentanyl and illicit drugs” flowing into the US from Canada shortly after taking office in January.

According to an unnamed senior Trump administration official, the US will also implement new rules of origin to set tariff rates on transshipped goods in the upcoming weeks.