Canada and Brazil hardest hit as Trump unleashes new global tariff blitz
Trump released an executive order listing higher import duty rates of 10 per cent to 41 per cent starting in seven days for 69 trading partners as the 12.01am EDT deadline approached. Some of them had reached tariff-reducing deals and some had no opportunity to negotiate with his administration.
The order said that goods from all other countries not listed in an annex would be subject to a 10 per cent US tariff rate.
Trump's order said that some trading partners, 'despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters'.
There will be a 35 per cent tariff on many Canadian goods. Photo: AFP
Trump issued a separate order for Canada that raises the rate on Canadian goods subject to fentanyl-related tariffs to 35 per cent from 25 per cent previously, saying Canada had 'failed to cooperate' in curbing fentanyl flows into the US.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
an hour ago
- South China Morning Post
US charges 2 Chinese nationals for sending Nvidia AI chips to China
Two Chinese nationals were arrested this week on charges that they sent tens of millions of dollars worth of advanced AI chips made by Nvidia to China in violation of US export restrictions, according to authorities. Advertisement The defendants used a company based in El Monte, California, to export sensitive technology, including graphics processing units, used in artificial intelligence without obtaining the necessary government licences, the US Justice Department said in a statement Tuesday. According to a criminal complaint provided by the agency, the two individuals shipped Nvidia-designed chips including the company's H100 AI accelerators, which are the basis for computers used to create and run artificial intelligence software. Such chips require official approval for sales to certain countries. The accused were identified by authorities as Geng Chuan, 28, of Pasadena, and Yang Shiwei Yang, of El Monte. They have been charged with violating the Export Control Reform Act and could face up to 20 years in prison, according to the Justice Department. Lawyers for the Geng and Yang could not be immediately located for comment. Spokespeople for Nvidia did not immediately respond to a request for comment. 03:34 Nvidia CEO Jensen Huang praises China's AI progress following chip sales approval Nvidia CEO Jensen Huang praises China's AI progress following chip sales approval Over the past several years, the US has steadily tightened restrictions on exports of semiconductors and chipmaking equipment to keep China from gaining ground in the race for AI dominance. The Trump administration is exploring ways to include enhanced location-tracking in AI chips to help with export control enforcement.
South China Morning Post
an hour ago
- South China Morning Post
US charges 2 Chinese nationals with sending Nvidia AI chips to China
Two Chinese nationals were arrested this week on charges that they sent tens of millions of dollars worth of advanced AI chips made by Nvidia to China in violation of US export restrictions, according to authorities. Advertisement The defendants used a company based in El Monte, California, to export sensitive technology, including graphics processing units, used in artificial intelligence without obtaining the necessary government licences, the US Justice Department said in a statement Tuesday. According to a criminal complaint provided by the agency, the two individuals shipped Nvidia-designed chips including the company's H100 AI accelerators, which are the basis for computers used to create and run artificial intelligence software. Such chips require official approval for sales to certain countries. The accused were identified by authorities as Geng Chuan, 28, of Pasadena, and Yang Shiwei Yang, of El Monte. They have been charged with violating the Export Control Reform Act and could face up to 20 years in prison, according to the Justice Department. Lawyers for the Geng and Yang could not be immediately located for comment. Spokespeople for Nvidia did not immediately respond to a request for comment. 03:34 Nvidia CEO Jensen Huang praises China's AI progress following chip sales approval Nvidia CEO Jensen Huang praises China's AI progress following chip sales approval Over the past several years, the US has steadily tightened restrictions on exports of semiconductors and chipmaking equipment to keep China from gaining ground in the race for AI dominance.
South China Morning Post
2 hours ago
- South China Morning Post
Ghislaine Maxwell opposes release of Epstein grand jury transcripts
Ghislaine Maxwell, the former girlfriend of the late financier Jeffrey Epstein who was convicted in 2021 of helping him sexually abuse teenage girls, said on Tuesday she opposed the US government's bid to release transcripts of proceedings before the grand jury that indicted her. Advertisement In a court filing, Maxwell's lawyers said the release of the materials would jeopardise a potential re-trial if she succeeds in persuading the US Supreme Court to overturn her conviction. 'The reputational harm from releasing incomplete, potentially misleading grand jury testimony, untested by cross-examination, would be severe and irrevocable,' her lawyers wrote. US President Donald Trump last month instructed Attorney General Pam Bondi to seek the release of the Epstein and Maxwell grand jury material, as he sought to quell discontent from his base of conservative supporters and congressional Democrats over his administration's handling of documents from the cases. Trump, a Republican, had promised to make public Epstein-related files if reelected and accused Democrats of covering up the truth. But in July, the US Justice Department said a previously touted Epstein client list did not exist, angering Trump's supporters. A banner depicting Jeffrey Epstein with US President Donald Trump hangs in Los Angeles, California, during a protest on Saturday. Photo: Reuters Grand juries meet in secret to guard against interference in criminal investigations, and records of their proceedings cannot be disclosed without a judge's permission.
