Photo credit score: Mark Schiefelbein/The Associated Press
Trump imposed tariffs on dozens of U.S. buying and selling companions, together with 69 international locations, whereas finalizing offers with the UK and EU.
IN NUMBERS
- Sixty-nine international locations face new US tariffs.
- 41%: Highest charge, utilized to Syria.
- 25%: Tariff on choose Indian exports.
- 10%: Global minimal charge.
- ~15%: New common US tariff charge — six occasions greater than final yr.
- 19 international locations see greater duties; 42 get reductions; 8 unchanged.
The United States has modified tariff charges on a few of its greatest commerce companions. Several Asian economies, together with Japan, South Korea, Taiwan, and Vietnam, will see decrease duties. India’s charge is trimmed barely to 25%. The UK and Brazil stay at 10%. Switzerland faces a pointy rise to 39%, the very best amongst main companions. Thailand’s charge is minimize almost in half. The new charges take impact on August 7 as a part of the US push to reset commerce phrases.
For some, the revisions provide reduction. Forty-two buying and selling companions will see decrease charges than earlier proposals, reflecting concessions in negotiations. But 19 international locations face steeper tariffs. The White House says the measures reward cooperation and punish resistance to US commerce calls for. Markets reacted cautiously. Asian currencies and inventory indexes dipped, with the Taiwan greenback down for a seventh straight day and the Swiss franc slipping. But the muted response suggests merchants had already priced in a lot of the shift forward of the August 1 deadline Trump had signalled.
The US targets international locations based mostly on their commerce stability. Countries that purchase extra US items face a ten per cent tariff, whereas these with a small surplus face 15 per cent. Others face greater duties.
Trump’s new charges are one of many greatest protectionist strikes in US coverage for the reason that Nineteen Thirties. Trump’s negotiations ended with new charges much like or decrease than these on April 2.
