Trump announces new tariff rates set to take effect next week
US President Donald Trump issued an executive order Thursday, slapping tariffs on many of America's trading partners, but the new duties are set to go into effect in seven days -- not Friday as was anticipated.
The executive order lays out rates to be applied against nearly 70 countries, ranging from 10% to 41% in what a Trump administration official hailed as the beginning of a "new system of trade."
The order was unveiled just hours ahead of an Aug. 1 deadline Trump had set for countries to make trade deals with the U.S. but the tariffs aren't going into effect immediately. Instead, they are set to roll out next week.
In addition, there is an extended rollout for goods shipped into the country by vessel. As long as they are shipped by August 7 and enter the U.S. by October 5, they will not be subject to the new tariff rates.
AAl
The countries facing the highest rates in the executive order are Laos and Myanmar at 40% and Syria at 41%.
However, Trump previously announced a 40% tariff on Brazil, which, when added on top of the 10% baseline tariff in the new order, means a 50% rate on the country's imports to the U.S.
The president previously announced some of the rates, such as a 35% tariff on Canada, unveiled in a separate executive order, and a 25% tariff on India.
Countries not listed in the executive order will face a 10% tariff.
The White House has said the rates were determined largely based on the trade deficit the U.S. has with those trading partners.
The new tariff rates resemble levies that were placed on more than 90 countries on April 2, though there are some differences.
Trump rolled out those so-called reciprocal tariffs in April, then delayed them, vowing then to strike roughly 90 trade deals in 90 days. In early July, Trump delayed the tariffs again, setting a deadline of August 1.
The new executive order appears to add 15% tariffs on goods from several countries not initially included in the president's "Liberation Day" executive order on April 2 -- including Bolivia, Ecuador, Ghana and Iceland.
Other rates have been lowered, in part through trade deals the White House previously announced.
The tariff on Vietnam is set at 20%, down from 46%. The rate for Japan is set at 15%, down from 24%.
The administration has struck other deals with major U.S. trading partners.
After the 'Liberation Day" tariffs were unveiled and then delayed, Trump sent letters to leaders of roughly two dozen countries outlining the tariff levels that would take effect if no deal were struck.
The Trump administration raced to strike trade agreements over the days preceding the deadline to win concessions from targeted countries in exchange for reduced tariff rates.
Ahead of Thursday's executive order, Trump brokered agreements with the United Kingdom, Indonesia, Vietnam, the Philippines, Japan, the European Union, and South Korea.
The White House also reached a preliminary accord with China that lowered tit-for-tat tariffs previously imposed by the world's two largest economies.
On Wednesday, Trump announced a 90-day delay of reciprocal tariffs targeting Mexico, which would have otherwise faced 30% levies.
Instead, Mexico faces a 25% tariff for most goods as well as sector-specific tariffs targeting cars, aluminum and steel.
The levies exclude products compliant with the United States-Mexico-Canada Agreement, or USMCA, a free trade agreement.
Tariffs put forward so far by Trump are expected to cost an average household an additional $2,400 this year, the Yale Budget Lab found on Wednesday.
Importers typically pass along a share of the tariff-related tax burden onto consumers in the form of price hikes.
The Trump administration has touted tariffs as part of a wider set of "America First economic policies," which have "sparked trillions of dollars in new investment in U.S. manufacturing, technology, and infrastructure," according to the White House's website.
Speaking to reporters Thursday, a Trump administration official hailed the new tariffs as part of a "new system of trade" that aims to prioritize "fair and balanced trade" over efficiency at all costs.
For his part, the president has insisted that the on-again, off-again levies make up a key part of his negotiation strategy.
"The president and his trade team want to cut the best deals for the American people and the American worker," White House press secretary Karoline Leavitt said last month when she announced the Aug. 1 deadline.
read more
Gold prices rise, 21 Karat at EGP 3685
NATO's Role in Israeli-Palestinian Conflict
US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria
Shoukry Meets Director-General of FAO
Lavrov: confrontation bet. nuclear powers must be avoided
News
Iran Summons French Ambassador over Foreign Minister Remarks
News
Aboul Gheit Condemns Israeli Escalation in West Bank
News
Greek PM: Athens Plays Key Role in Improving Energy Security in Region
News
One Person Injured in Explosion at Ukrainian Embassy in Madrid
News
Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters
Arts & Culture
"Jurassic World Rebirth" Gets Streaming Date
News
China Launches Largest Ever Aircraft Carrier
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
Business
Egyptian Pound Undervalued by 30%, Says Goldman Sachs
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
Arts & Culture
South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle
Arts & Culture
Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani
Sports
Get to Know 2025 WWE Evolution Results
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Egypt Independent
an hour ago
- Egypt Independent
Trump's tariffs are sending African countries into China's hands
Africa is adjusting to the new reality of US President Donald Trump's tariffs, with countries on the continent facing some of the highest export charges. But what could become a crisis is an opportunity for United States rival China, which has long courted African countries and is now offering them a lifeline. 'We (Africa) are going straight into the hands of China,' Nigerian economist Bismarck Rewane told CNN. 'That is the unfortunate outcome,' Rewane said of Africa's expected further shift toward China, which has emerged in recent years as the continent's largest bilateral trading partner. Four African nations – Libya, South Africa, Algeria and Tunisia – face some of the steepest tariffs imposed by the Trump administration, with charges on exports ranging from 25 percent to 30 percent. Eighteen other countries from the continent were hit with 15 percent levies, a modified tariff package released Thursday by the White House showed. In April, when the US import levies were first announced, Trump pitched them as 'reciprocal' and targeting countries that he said had trade deficits with the US. But Trump instead based his tariffs on countries' trade deficits with the United States – not the tariffs they charge. South Africa, one of the continent's powerhouses, challenged the imposition of a 30 percent tariff on its US-bound exports, saying Trump's decision was not based on 'an accurate representation of available trade data.' An opportunity for China China has offered to soften the impact of US tariffs on Africa, saying in June it would halt charges on imports for nearly all its African partners. 'There is no other opportunity for African countries to strengthen South-South trade (among developing nations) than now,' South African researcher Neo Letswalo told CNN, while urging countries to 'solely turn to China and make it the next US.' 'America is gradually forfeiting its global leadership status,' Letswalo said, adding that the more countries 'become less dependent on the US, the greater opportunity for China to become an alternative.' Before the tariff deadline, the US did not make a trade deal with any African nation despite efforts from the continent to avoid the tariffs, underscoring Africa's place on the White House's priority list. Letswalo described America's failure to negotiate a deal with Africa as 'an open goal for China.' The impact of Trump's tariffs is already being felt in some of Africa's most buoyant economies and some of the continent's poorest, such as Lesotho, which was slapped with a 15 percent tariff. It had previously been hit with a 50 percent tariff – one of the steepest rates – before the charges were modified. Lesotho's Prime Minister Samuel Matekane said in June that the huge tariff, combined with the halt of US aid to the nation of just over 2 million people, 'have crippled industries that previously sustained thousands of jobs.' Trump has described Lesotho, a landlocked nation surrounded by South Africa, as a country 'nobody has ever heard of' – even though trade between the US and Lesotho totaled over $240 million last year, mostly in textiles. A worker executes her duties at the Afri-Expo Textile Factory, which makes clothing for the U.S. market, on the outskirts of Maseru, the capital of Lesotho, July 9, 2025. Siyabonga Sishi/Reuters Before the tariffs, Lesotho benefited from a US trade agreement that allowed it and other eligible sub-Saharan countries to export goods to the US duty-free. Authorities in Lesotho have declared a two-year national state of disaster over the tariffs, as the country braces for their impact, with the textile industry already grappling with massive job losses. Thousands of roles are also threatened in Lesotho's richer neighbor, South Africa, where citrus growers said they were gripped with 'great anxiety' ahead of the August 1 tariff deadline. In a statement this week, the country's Citrus Growers' Association (CGA) warned that 'job losses will be a certainty' if the tariffs came into effect. It added that, 'hundreds of thousands of cartons of citrus are ready in packhouses to be shipped to the US over the next few weeks,' and that implementing the charges 'will mean most of this fruit will be left unsold.' Distribution workers pack tangerines at Goede Hoop Citrus in Citrusdal, Western Cape province, South Africa, July 9, 2025. Esa Alexander/Reuters Other industries in South Africa, such as the automobile sector, also face the risk of economic shocks, analysts said. 'Already, we have companies within the automobile sector threatening to leave (the country) as a result of plummeting business,' Letswalo said. 'The tariffs will add to the burden of pre-existing issues, and if these entities decide to exit South Africa, our already existing unemployment calamities will worsen,' he said. Gwede Mantashe, South Africa's minister of mineral and petroleum resources, told reporters Tuesday that other routes are being sought for South African goods. 'If the US imposes high tariffs, we must look for alternative markets,' he said. 'Our biggest trading partner is China, not the US. The US is number two,' Mantashe added. As South Africa scouts for broader opportunities, however, the citrus growers' group has voiced its reservations, specifically that their products suit designated markets so finding another is not straightforward. Its CEO, Boitshoko Ntshabele, told CNN in a statement that 'the US market remains a priority, and so should improving access to China' and elsewhere. 'There is a deep appreciation of South African citrus by US consumers. Since 2017, our exports to that market have almost doubled. The market has immense potential,' Ntshabele added. Is reliance on China risky? Letswalo believes there are accompanying risks behind the enticing option of relying on Beijing to cushion the impact of Trump's tariffs. Alternating US with China 'could be risky,' he said, 'especially for some nascent industries within the (African) countries.' 'If they're not protected, Chinese products will flood and outcompete them as many African countries are price sensitive markets,' he warned. A large batch of goods, including dump trucks, is assembled at the Yantai Port for export to Africa on July 7, 2025 in Yantai, Shandong Province of China. Tang Ke/VCG/Getty Images China has imposed some imbalanced trade deals of its own in Africa with trade deficits skewed in its favor, according to the China-Global South Project (CGSP), an organization monitoring China's engagement with developing countries. Additionally, the bulk of Beijing's exports to Africa comprise mainly manufactured products, while the continent's exports to China are commonly raw materials. South Africa's Ramaphosa advocated for balanced trade with China when he met his Chinese counterpart Xi Jinping in Beijing last year. Letswalo advised that, while Africa leans on China for trade, it must also seek domestic alternatives. He recommended a swift implementation of the African Continental Free Trade Area (AfCFTA), an agreement signed by nations on the continent to boost trade among themselves. Although established in 2020, implementing AfCFTA has been slow, with just over 20 countries of the continent's 55 trading under the deal. Rewane believes that the US tariffs could inspire Africa 'to build economic resilience and be less dependent on lopsided trade.' Above all, he added, the continent must be 'more inward-looking rather than outward-dependent.'
See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Apple Ships 3 Bln iPhones
Rana Atef Apple announced that it has shipped its three billionth iPhone. Tim Cook announced the news during a call for the company's third-quarter earnings. The company released the first iPhone in 2007 and sold its billionth iPhone in 2016. So, the audience can guess that the company has shipped its two billionth sometime in 2021, and now, only four years later, it has reached the new milestone. Apple's CEO said the iPhone enjoyed a double-digit growth in the third quarter and that the company earned $94 billion in revenue, up 10 percent year over year. Apple expert Mark Gurman suggested that iPhone sales over the past quarter were driven by people who bought one out of fear that the device would be out of their reach in the future due to Trump's tariffs. Apple is set to announce its next iPhone models in the coming weeks, probably in September. read more UAE's Lunar Mission Delayed to Tomorrow Twitter Lifts Trump's Account Ban Scientists Find Evidence Of 10،000 Black Holes Surrounding The Center Of The Milky Way Galaxy Greenhouse In Antarctica Able To Grow Vegetables Without Soil Or Sunlight Moving Over China: U.S. Is Again Home to World's Speediest Supercomputer Technology The 10 most expensive cars in the world Technology Top 10 fastest cars in the world Technology Lasers Could Make Computers 1 Million Times Faster Technology Smart technology taking control of our lives News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
11 hours ago
- See - Sada Elbalad
Trump Orders Nuclear Submarine Redeployment in Response to ‘Provocative' Russian Remarks
Taarek Refaat U.S. President Donald Trump on Friday ordered the repositioning of two nuclear submarines to 'strategic locations' in response to what he called 'highly provocative' statements made by Russian Security Council Deputy Chairman Dmitry Medvedev. In a post on his Truth Social platform, Trump said, 'Based on the extremely provocative statements made by former Russian President Medvedev, now Deputy Chairman of Russia's Security Council, I have ordered the deployment of two nuclear submarines to appropriate areas in case those reckless and dangerous words are more than just talk.' He added, 'Words matter greatly and often lead to unintended consequences… I hope this is not the case.' It remains unclear whether Trump was referring to nuclear-armed submarines or vessels powered by nuclear reactors. Medvedev's comments came a day earlier, when he referenced Russia's Cold War–era nuclear retaliatory capabilities in a pointed warning, following Trump's recent admonition to 'watch his words.' read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
