Trump sets new tariffs on dozens of countries’ exports

US President Donald Trump has signed an executive order reimposing “reciprocal tariffs” ranging from 10 percent to 41 percent on US imports from dozens of countries and foreign locations.

Separately, Trump also signed an executive order late on Thursday that increased tariffs on certain Canadian goods, with the White House accusing Ottawa of failing to “cooperate in curbing the ongoing flood of fentanyl and other illicit drugs” entering the US.

In a statement on Thursday titled “Further Modifying the Reciprocal Tariff Rates”, the US listed some 69 trading partners and their respective “adjusted” tariff rates.

US-bound exports from some of Washington’s major trading partners – including Australia and the United Kingdom – will be subject to the baseline rate of 10 percent.

Other key trading partners – including India at 25 percent and Taiwan at 20 percent – have had higher rates imposed as slow-moving trade deal negotiations continue.

Trump cited the “continued lack of reciprocity in our bilateral trade relationships” in a statement on the White House website announcing the reimposition of the tariffs.

“I have determined that it is necessary and appropriate to deal with the national emergency declared in Executive Order 14257 by imposing additional ad valorem duties on goods of certain trading partners,” he said.

The White House also published a fact sheet on the increase in Canada’s tariff rate. In the release, Trump lamented “Canada’s continued inaction and retaliation” on addressing the “flow of illicit drugs” into the US across its northern border.

“President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency,” the White House said, adding that the new rates go into effect on August 1.

The fact sheet said goods that qualify for preferential treatment under the United States-Mexico-Canada Agreement (USMCA) would not be subject to tariffs.

Soon after returning to office in January, Trump declared a national emergency under the International Emergency Economic Powers Act (IEEPA), citing a “public health crisis caused by fentanyl and illicit drugs” flowing into the US from Canada.

The US is also set to implement new rules of origin to determine tariff rates on transshipped goods in the coming weeks, the Reuters news agency reports, citing an unnamed senior Trump administration official.

Transshipped goods are those moved between vessels at an intermediate destination during transit to their final destination. The technicalities of the rules are being worked out, the official added.