US slaps new tariffs on nearly 40 countries, list named
Donald Trump, President of the US (photo: Getty Images)
US President Donald Trump introduced new mutually agreed tariff rates that will be applied to imports from several countries, reports CNN.
According to Trump, some countries have already agreed or are in the final stages of negotiations regarding trade and security commitments with the US. However, there are states that either did not participate in the negotiations or proposed conditions that do not meet the necessary requirements to address the trade imbalance.
Here are the announced adjusted tariff rates:
- Angola: 32% 15%
- Bangladesh: 37% 20%
- Bosnia and Herzegovina: 35% 30%
- Botswana: 37% 15%
- Brunei: 24% 25%
- Cambodia: 49% 19%
- Cameroon: 11% 15%
- Chad: 13% 15%
- Côte d'Ivoire: 21% 15%
- Democratic Republic of Congo: 11% 15%
- Equatorial Guinea: 13% 15%
- European Union: 20% 15% (for most goods)
- Falkland Islands: 41% 10%
- Fiji: 32% 15%
- Guyana: 38% 15%
- India: 26% 25%
- Indonesia: 32% 19%
- Iraq: 39% 35%
- Israel: 17% 15%
- Japan: 24% 15%
- Jordan: 20% 15%
- Kazakhstan: 27% 25%
- Laos: 48% 40%
- Lesotho: 50% 15%
- Libya: 31% 30%
- Liechtenstein: 37% 15%
- Madagascar: 47% 15%
- Malawi: 17% 15%
- Malaysia: 24% 19%
- Mauritius: 40% 15%
- Moldova: 31% 25%
- Mozambique: 16% 15%
- Myanmar: 44% 40%
- Namibia: 21% 15%
- Nauru: 30% 15%
- Nigeria: 14% 15%
- North Macedonia: 33% 15%
- Pakistan: 29% 19%
- Philippines: 17% 19%
- Serbia: 37% 35%
- South Korea: 30% 15%
- Sri Lanka: 44% 20%
- Switzerland: 31% 39%
- Taiwan: 32% 20%
- Thailand: 36% 19%
- Tunisia: 28% 25%
- Vanuatu: 22% 15%
- Vietnam: 46% 20%
- Zambia: 17% 15%
- Zimbabwe: 18% 15%
Additionally, two key tariff rates have been set for other countries
A 10% tariff will apply to countries with a trade surplus - that is, those to which the US exports more goods than it imports. A 15% rate is set for countries with a trade deficit in relations with the United States.
The new tariff rules will apply to products from about 40 countries. For some of them, customs rates will decrease compared to those in effect since April, while for others, they will increase.
Additionally, more than ten countries will face tariffs exceeding 15% due to existing trade agreements with the US.
Trump’s customs tariffs
In April of this year, Trump introduced large-scale import tariffs. This move shook the world and the markets. However, just a few days later, Trump suspended the additional tariffs for a number of countries.
Recently, the US and the EU reached an agreement on a trade deal. Trump announced the introduction of a 15% general tariff on imports from 27 EU countries. Will Trump’s new agreement with the EU help Ukraine? Find out in our report.
Trump also promised to impose tariffs against India — one of Russia’s largest trading partners.
