- The new tariffs vary from 10% to 41% according to the country.
- The revised rates will enter into force in seven days.
- Canada, India, Brazil, Switzerland faces steep rates.
Washington: The president of the United States, Donald Trump, has announced a new wave of steep import tariffs, aimed at dozens of countries, including Pakistan with 19% of import taxes, before a business deadline for Friday’s commercial offer.
The measure is part of its broader effort to eliminate global commercial rules. Pakistan now joins a list of 69 nations whose goods will face new rates from the United States, ranging from 10% to 41%, starting next week.
Trump said the new tariffs are destined to fix what he sees as unfair commercial imbalances and protect the economic and security interests of the United States.
Trump published an executive order that includes higher import tax rates from 10% to 41% from seven days for 69 commercial partners as the EDT deadline of 12:01 am (0401 GMT) approached. Some of them had reached rates reduction agreements, and others did not have the opportunity to negotiate with their administration.
The order said that the assets of all other countries that do not appear in an annex would be subject to a tariff rate of 10% of the US.
Trump’s order declared that some commercial partners, “despite having participated in negotiations, have offered terms that, in my opinion, do not sufficiently address imbalances in our commercial relationship or have not been able to align enough with the United States on matters of economic and national security.”
Trump issued a separate order for Canada that increases the rate of Canadian goods subject to rates related to 35% of 25% of 25% before, saying that Canada had “not cooperated” when stopping fentanyl flows in the United States.
The highest tariffs on Canadian goods contrasted strongly with Trump’s decision to grant Mexico a 90 -day respite higher than 30% in many goods to provide more time to negotiate a broader commercial pact.
An American official told journalists that no more commercial agreements were announced, since Trump’s higher “reciprocal” tariffs were established in force.
“We have some offers,” said the official. “And I don’t want to get ahead of the president of the United States to announce those agreements.”
Regarding the pronounced tariffs on the assets of Canada, the second largest American commercial partner after Mexico, the official said that Canadian officials “have not shown the same level of construction that we have seen from the Mexican side.”
The extension of Mexico avoids a 30% tariff on most Mexican non-automotive goods that comply with the US-Mexico-Canadian trade agreement and occurred after a Thursday morning call between Trump and Mexican president Claudia Sheinbaum.
“We avoid the increase in the announced rate for tomorrow,” Sheinbaum wrote in a publication of social networks X, adding that Trump’s call was “very good.”
Approximately 85% of American imports in Mexico comply with the rules of origin described in the USMCA, protecting them from 25% of tariffs related to fentanyl, according to the Ministry of Economy of Mexico.
Trump said that the United States would continue to impose a 50% tariff on Mexican steel, aluminum and copper, and a 25% tariff on Mexican cars and goods that do not comply with USMCA subjects to tariffs related to the United States fentanyl crisis.
“In addition, Mexico agreed to immediately end its non -tariff commercial barriers, of which there were many,” Trump said in a social publication of truth without providing details.
Deal de Korea, India Discord
South Korea agreed on Wednesday to accept a 15% tariff on its exports to the United States, including cars, below 25% threatened, as part of an agreement that includes a promise to invest $ 350 billion in US projects to be chosen by Trump.
But India’s assets seemed to be aimed at a 25% rate after the conversations attributed access to the agricultural sector of India, which attracted a threat of greater Trump rate that also included a sanction not specified by the purchases of Russian oil in India.
Although negotiations with India continued, New Delhi promised to protect the intensive agricultural sector from the country’s work, causing the outrage of the opposition party and depression in the rupee.
Trump implementation of higher import taxes on Friday is produced in the midst of more evidence that they have begun to increase the prices of consumer goods.
The data of the Department of Commerce published on Thursday showed that the prices of home furniture and durable domestic team increased 1.3% in June, the highest gain since March 2022, after increasing 0.6% in May. The prices of recreational goods and vehicles increased 0.9%, the largest amount since February 2024, after not having changed in May. Clothing and footwear prices rose 0.4%.
Difficult questions of the judges
Trump arrived in Brazil on Wednesday with a tariff of 50% steep when he intensified his fight with the largest economy in Latin America about his prosecution of his friend and former president Jair Bolsonaro, but softened the blow excluding sectors such as airplanes, energy and orange juice of the heaviest gravels.
The period prior to the deadline of Trump tariffs developed as the judges of the Federal Court of Appeals sharply questioned the use of Trump of a law of radical emergency powers to justify their pronounced tariffs of up to 50% in almost all commercial partners.
Trump invoked the International Law of Emergency Economic Powers of 1977 to declare an emergency about the growing commercial deficit of the United States and impose its “reciprocal” tariffs and an emergency of separate fentanyl.
The International Trade Court ruled in May that the actions exceeded its executive authority, and the questions of the judges during the oral arguments before the United States Court of Appeals for the Federal Circuit in Washington indicated more skepticism.
The United States Treasury Secretary Scott Besent said that the United States believes that it has the creation of a commercial agreement with China, but “it is not 100% done” and still needs Trump’s approval.
American negotiators “booked quite a lot” for two days of commercial conversations with the Chinese in Stockholm this week, Besent said in an interview with CNBC.
China faces a deadline of August 12 to reach a lasting rate agreement with the Trump administration, after Beijing and Washington reached preliminary agreements in May and June to end the Teta Tariffs per eye and a limit of rare earth minerals.
