Tuesday, 02 January 2024 12:17 GMT

Trump's edited tariffs spark different reactions from nations


(MENAFN) U.S. President Donald Trump issued an executive order late Thursday altering tariff rates on imports from numerous countries, a sweeping move that has stirred fresh tensions in international trade.

Described by the White House as a step toward “reciprocity and fairness,” the revised tariffs now range from 10% to 41%, carrying significant geopolitical and economic implications.

Another executive order increases tariffs on Canadian goods from 25% to 35%, effective August 1. While many countries saw tariffs between 15% and 30%, a handful—including Iraq (35%), Laos and Myanmar (40% each), Switzerland (39%), and Syria (41%)—faced steeper rates.

Trump mentioned that his administration had reached “a couple” of trade deals but provided no specifics. The U.S. has previously secured trade agreements with several nations, including the UK, EU, Japan, Vietnam, Indonesia, the Philippines, and South Korea, while negotiations with China are ongoing.

Reactions from global partners ranged widely based on how their countries were affected. Some responded with frustration or strategic adjustments, while others expressed cautious relief. Several nations saw their tariff rates increase, while others received reductions compared to the previous rates set on April 2.

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