The highest rates in the executive order are Laos and Myanmar at 40% and Syria at 41%.
US President Donald Trump announced on Thursday new tariffs of up to 41 percent on goods imported from dozens of countries, using powers he says he uses to reduce the country’s trade deficit with many of its trading partners. the new duties are set to go into effect in seven days — not Friday as was anticipated.
One-week delay
A senior US official told reporters that the one-week delay is intended to give US customs sufficient time to prepare for the collection of these duties.
Rates to be applied
The executive order lays out rates to be applied against nearly 70 countries, ranging from 10% to 41% in what a Trump administration official hailed as the beginning of a “new system of trade.”
Highest rates in the executive order
It is noteworthy that the countries facing the highest rates in the executive order are Laos and Myanmar at 40% and Syria at 41%. However, the president previously announced a 40% tariff on Brazil, which, when added on top of the 10% baseline tariff in the new order, means a 50% rate on the country’s imports to the U.S.
The new revised tariff rates
Below are the new revised tariff rates announced by Trump. Imports from some countries, such as Brazil, are subject to additional tariffs that will be added to the countervailing tariffs listed below. Afghanistan 15 percent
Countries subject to Trump’s tariffs
Algeria 30 percent- Angola 15 percent –Bangladesh 20 percent –Bolivia 15 percent- Bosnia and Herzegovina 30 percent – Botswana 15 percent Brazil 10 percent –Brunei 25 percent- Cambodia 19 percent- Cameroon 15 percent – Chad 15 percent- Costa Rica 15 percent –Côte d’Ivoire 15 percent – Democratic Republic of the Congo 15 percent
Ecuador 15 percent – European Union 0-15 percent- Equatorial Guinea 15 percent Falkland Islands 10 percent- Fiji 15 percent – Ghana 15 percent Guyana 15 percent – Iceland 15 percent Percent – India 25 percent – Indonesia 19 percent – Iraq 35 percent – Israel 15 percent – Japan 15 percent – Jordan 15 percent – Kazakhstan 25 percent – Laos 40 percent
Reciprocal tariffs
Trump rolled out those so-called reciprocal tariffs in April, then delayed them, vowing then to strike roughly 90 trade deals in 90 days. In early July, Trump delayed the tariffs again, setting a deadline of Aug. 1.
The new executive order
The new executive order appears to add 15% tariffs on goods from several countries not initially included in the president’s “Liberation Day” executive order on April 2 — including Bolivia, Ecuador, Ghana and Iceland.
Related : The US impose 30% tariffs on Europe starting August 1st.
