Trump's new tariffs will hit these major trading partners
The deal, a rough agreement likely to become a framework for further negotiations, was swiftly derided by European leaders and trade experts as lopsided.
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Switzerland, which is not an E.U. member, is negotiating a deal separately and will face tariffs of 39 percent, according to the White House statement Thursday, up from the 31 percent tariff announced in April. The country's Federal Council expressed 'great regret' over the higher rate in a post on X and said it was analyzing the situation before deciding on next steps.
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United Kingdom
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The U.K. remains subject to the broad tariffs of 10 percent first announced in April, although a reduction for Britain's automotive and aerospace industries was negotiated when the U.K. became the first country to sign a new trade pact with the U.S. in early May.
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Under the deal, which came into effect June 30, 10 percent tariffs on U.K. goods like engines and aircraft parts were removed, and car export tariffs dropped from 27.5 percent to 10 percent for the first 100,000 vehicles exported to the U.S. Trump said he personally intervened to lower tariffs on 'very special cars' like Rolls-Royce and Bentley when the deal was announced.
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Japan
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Trump said last month that he clinched a trade deal with Japan and would impose a 15 percent duty on Japanese imports – down from the 25 percent he threatened earlier last month.
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In exchange, Japan will remove trade barriers for U.S. auto and agricultural imports and invest $550 billion in the United States, Trump said.
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Taiwan
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The Trump administration on Thursday lowered the tariff on goods from Taiwan to 20 percent, down from the 32 percent announced in April – an announcement that had spurred the Taipei stock exchange's single largest one-day drop. Taiwan is the United States' eighth-largest trading partner, according to federal data.
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Taiwan President Lai Ching-te said at a news conference Friday that the new tariff was temporary and that the government expects to negotiate a lower figure, adding that rates for semiconductors, electronics and other information and communication technology are also still being negotiated.
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South Korea
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Trump announced Wednesday that he had reached a trade deal with South Korea, which was originally set to face a 25 percent tariff. Under the deal, South Korean imports will now face a 15 percent tariff rate. In exchange, South Korea – the United States' ninth-largest trading partner – will invest $350 billion in the U.S., directed by the White House, and purchase $100 billion in American energy.
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Vietnam
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Trump announced a trade deal with Vietnam in early July that set a 20 percent tariff on Vietnamese goods and a 40 percent tariff on goods from countries that are shipped to American buyers via the Southeast Asian nation. The administration had previously sought to impose a 46 percent tariff on Vietnam, which the administration said has become a transshipment point for Chinese companies seeking to dodge U.S. tariffs.
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India
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Indian goods entering the U.S. will now be subject to a 25 percent tariff, according to Thursday's executive order. The rate came after a barrage of social media posts from Trump this week that castigated India, the United States' 12th-largest trading partner, for purchasing Russian arms and energy, and mockingly suggested that the country could wind up buying oil from its archrival Pakistan.
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Winnipeg Free Press
42 minutes ago
- Winnipeg Free Press
In rejecting the jobs report, Trump follows his own playbook of discrediting unfavorable data
WASHINGTON (AP) — When the coronavirus surged during President Donald Trump's first term, he called for a simple fix: Limit the amount of testing so the deadly outbreak looked less severe. When he lost the 2020 election, he had a ready-made reason: The vote count was fraudulent. And on Friday, when the July jobs report revisions showed a distressed economy, Trump had an answer: He fired the official in charge of the data and called the report of a sharp slowdown in hiring 'phony.' Trump has a go-to playbook if the numbers reveal uncomfortable realities, and that's to discredit or conceal the figures and to attack the messenger — all of which can hurt the president's efforts to convince the world that America is getting stronger. 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Winnipeg Free Press
42 minutes ago
- Winnipeg Free Press
Texas and California joust for political advantage, with Trump power and US House majority in play
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Winnipeg Free Press
3 hours ago
- Winnipeg Free Press
Alaska Sen. Murkowski toys with bid for governor, defends vote supporting Trump's tax breaks package
JUNEAU, Alaska (AP) — Republican U.S. Sen. Lisa Murkowski, speaking with Alaska reporters Monday, toyed with the idea of running for governor and defended her recent high-profile decision to vote in support of President Donald Trump's tax breaks and spending cuts bill. Murkowski, speaking from Anchorage, said 'sure' when asked if she has considered or is considering a run for governor. She later said her response was 'a little bit flippant' because she gets asked that question so often. 'Would I love to come home? I have to tell you, of course I would love to come home,' she said. 'I am not making any decisions about anything, because my responsibility to Alaskans is my job in the Senate right now.' Several Republicans already have announced plans to run in next year's governor's race, including Lt. Gov. Nancy Dahlstrom. Republican Gov. Mike Dunleavy is not eligible to seek a third consecutive term. Alaska has an open primary system and ranked choice voting in general elections. Murkowski is not up for reelection until 2028. A centrist, Murkowski has become a closely watched figure in a sharply divided Congress. She has at times been at odds with her party in her criticism of Trump and blasted by some GOP voters as a 'Republican in name only.' But her decision to support Trump's signature bill last month also frustrated others in a state where independents comprise the largest number of registered voters. She previously described her decision-making process around the bill as 'agonizing.' On Monday, she said it was clear to her the bill was not only a priority of Trump's but also that it was going to pass, so it became important to her to help make it as advantageous to the state as she could. 'So I did everything within my power — as one lawmaker from Alaska — to try to make sure that the most vulnerable in our state would not be negatively impacted,' she said. 'And I had a hard choice to make, and I think I made the right choice for Alaskans.'
