Trump units new tariff charges for dozens of nations, together with a brand new deadline : NPR

A basic view reveals transport containers on the port in Keelung on Aug. 1

I-Hwa Cheng/AFP through Getty Images

cover caption

toggle caption

I-Hwa Cheng/AFP through Getty Images

President Trump has issued updated tariff rates, itemizing greater than 65 international locations plus the European Union.

Some of the charges replicate what was shared in earlier “letters” posted by the president earlier this month. Others replicate current commerce offers that the administration has introduced.

While the administration has for weeks mentioned Aug. 1 could be the brand new date to implement tariffs, most international locations will not see these charges take impact for no less than per week, in keeping with the manager order posted Thursday night. Trump has repeatedly shifted commerce deadlines and is constant negotiations with varied international locations.

Countries not listed within the order will face an extra fee of 10% in seven days.

Other exceptions embody:

• Canada: The White House says items from Canada that aren’t lined by the USMCA settlement will likely be topic to 35% tariffs starting Friday. The administration says Canada shouldn’t be doing sufficient to fight illicit drug trafficking and blames it for retaliating in opposition to U.S. actions to deal with the problem.
• China: Trump has spoken positively about negotiations with China in current days. The order issued Thursday mentioned China will likely be topic to a prior order in the intervening time.
• Mexico: The White House mentioned earlier Thursday {that a} new tariff fee on items from Mexico is on pause whereas negotiations proceed.

The White House says there will likely be an extra 40% tariff imposed for transshipment — international locations sending their items to the U.S. via different international locations in an try and evade tariffs

Despite Trump’s framing of tariffs as an quantity that different international locations pay, importers within the U.S. pay the tariffs on to the American authorities. Foreign companies can soak up a few of these prices, however U.S. companies and customers have traditionally seen increased costs because of tariffs.