President Donald Trump signed an executive order on July 31 imposing sweeping new tariffs on imports from trading partners across the world, escalating an aggressive trade policy aimed at spurring domestic manufacturing in the United States.
In addition, Trump took separate action to raise tariffs on goods from Canada from 25% to 35%.
The new reciprocal tariff rates, which will go into effect in seven days, come before an Aug. 1 deadline Trump gave aMore...bout 180 countries to either reach trade deals with the Trump administration or face higher reciprocal tariffs assigned by the U.S.
Trump has kept a new baseline 10% tariff for countries where the United States exports more goods than it receives.
About 40 countries will have a 15% U.S. tariff rate under Trump's order. A senior White House official said these include countries that export slightly more goods to the U.S. than it imports. From there, the tariff rates range up to 40% on imports from Loas and Myanmar and 41% on goods for Syria. These are countries where the U.S. has the largest trade deficits.
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