President Donald Trump signed an executive order Thursday that would have new tariffs on a wide swath of U.S. trading partners to go into effect in seven days — the next step in his trade agenda that will test the global economy and alliances.
The order was issued shortly after 7 p.m. It came after a flurry of tariff-related activity in recent days, as the White House announced agreements with various nations and blocs ahead of Trump’s self-imposed Aug. 1 deadline.
A few notable tariff rates that were outlined in Trump's executive order
After initially threatening the African nation of Lesotho with a 50% tariff, the country’s goods will now be taxed at 15%.
Taiwan will be tariffed at 20%, Pakistan at 19% and Israel, Iceland, Fiji, Ghana, Guyana and Ecuador among the countries with imported goods taxed at 15%.
Trump’s new tariffs at a glance
The tariffs will go into effect Aug. 7, not the Friday deadline that the president had set. The reason for this is the government needs time to harmonize the tariff rates, according to a senior official who spoke to reporters on condition of anonymity.
The order applies to 68 countries and the 27-member European Union. Countries not listed in the order signed Thursday by Trump would face a baseline 10% tariff.
https://ca.finance.yahoo.com/news/latest-us-inflation-ticked-higher-145442600.html
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