A series of new tariffs on US imports from dozens of countries were due to take effect on Friday. But in a surprise move, US President Donald Trump has signed an executive order pushing the date back a week. The 15 percent tariff on imports from the EU - as well as Japan and South Korea - will only take effect on August 7, a US government official confirmed to the DPA news agency.
At the same time, after the deadline had expired, Trump imposed new punitive tariffs by executive order on countries without trade agreements with the US. The tariffs range from 10 to 50 percent. Trump justified this action by citing trade imbalances and the fact that some partners had not made sufficient concessions in negotiations. For countries not included in the list, the new order sets a general tariff rate of 10 percent.
According to the list released by the White House, Switzerland is one of the most affected countries with 39 percent. The move hits the US's immediate neighbor, Canada, particularly hard. Tariffs on many Canadian goods will rise to 35 percent. The reason given was that Canada had "not cooperated" in the fight against fentanyl smuggling into the US.
In stark contrast is the decision to give Mexico, the US's second-largest trading partner, a 90-day extension to allow for further negotiations. That means Mexico will avoid a tariff hike to 30 percent for now. The tariff hike announced for August 1 on Mexico has been averted, Mexican President Claudia Sheinbaum wrote in a post on social media, adding that the conversation with Trump had been "very good."
Trump imposed the highest tariff rate of 50 percent on Brazil, but exempted sectors such as aircraft and energy. The reason given was the criminal prosecution of former Brazilian president and Trump friend Jair Bolsonaro. Other higher tariff rates were imposed on Syria at 41 percent, Laos and Myanmar at 40 percent, and Iraq at 35 percent. (A2 Televizion)
A2 CNN Livestream
MUND TE LEXONI GJITHASHTU
