US President Donald Trump has signed orders imposing import tariffs on dozens of countries, which will take effect in seven days, according to the White House website.
The base tariff for most countries that supply goods to the US will remain at the same level as that introduced on April 2 — 10%. This rate will only apply to countries to which the US exports more than it imports.
A minimum basic customs tariff of 15% will apply to countries with which the US has a small trade deficit. It will affect about 40 countries.
A rate above 15% will be imposed on more than a dozen countries that have not signed a trade agreement with the US or with which the largest trade deficit has developed.
The White House has published a list of countries and territories and the tariffs imposed on them.
According to this list, the highest rates will be imposed on Syria (41%), Laos, Myanmar (40%), Switzerland (39%), Iraq, Serbia (35%), Algeria, Bosnia and Herzegovina, Libya and South Africa (30%).
For a number of countries and associations, the rates have changed since 2 April, when Trump declared America’s “liberation day.” For example, for most goods from the EU, with which the US recently concluded a trade agreement, the duty will be 15% instead of 20%, for Taiwan — 20% instead of 32%, for South Korea — 15% instead of 30%, and for Japan — 15% instead of 24%.
In a separate order, Trump raised tariffs on Canada from 25% to 35%, accusing the country of “failing to assist in stopping the ongoing flow” of fentanyl across the border. They take effect on August 1. Canada is the US second-largest trading partner after Mexico and its largest supplier of steel and aluminium. Trump had previously extended the existing tariffs on Mexico for 90 days to allow more time for trade negotiations.
