Trump edits international tariffs hours before deadline

(MENAFN) US President Donald Trump has signed an executive order extending the August 1 deadline for implementing new tariffs by one week. This broad move changes tariff rates for numerous countries—some face increases, while others receive last-minute exemptions.

The White House said the extension allows more time for countries to agree to “meaningful trade and security commitments.” Nations that have not engaged in talks or whose offers fall short will face higher tariffs starting August 7.

India is set to face 25% tariffs following Trump’s recent penalties over its continued trade with Russia, citing both India’s BRICS membership and a large trade deficit with the US.

There are inconsistencies in the tariff list, such as Brazil, which was previously hit with a 50% tariff but now faces only 10%. Trump had claimed Brazil threatens US national security, foreign policy, and the economy. He also threatened a further 10% tariff on all BRICS countries, accusing the group of attempting to undermine the US dollar’s global status.

Canada saw its tariff increase abruptly from 25% to 35%, due to what Trump described as Ottawa’s failure to address fentanyl trafficking. Relations have worsened after Canada’s support for Palestinian statehood, which Trump said complicates trade negotiations.

Mexico avoided a tariff hike after reaching a deal with Washington. Its current 25% tariff on some goods remains for 90 days, delaying a planned rise to 30%.

The EU, South Korea, and Japan will face a 15% tariff following recent trade agreements. Some of the highest adjusted tariffs apply to Syria (41%), Laos and Myanmar (40%), Switzerland (39%), Iraq and Serbia (35%), and Algeria, Libya, and South Africa (30%).

The White House emphasized that a baseline tariff will remain at 10% for countries with a trade surplus and 15% for those with a trade deficit with the US.

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