US delays tariff implementation, imposes new rates on several countries

US delays tariff implementation, imposes new rates on several countries

Tariffs have been postponed to provide more time for implementation, while new sweeping tariffs announced ranging from 10% to 50% on imports from 69 trading partners

by Manal Barakat, SeaNewsEditor


A US government official confirmed that the new tariffs on imports will be delayed until 7 August, rather than taking effect today, 1 August.

 

This postponement also applies to the 15% tariff on imports from the EU.

 

According to German media DVZ, the official explained that the delay is intended to provide additional time for the implementation of the new rules.

 

Additionally, US President Donald Trump had signed an executive order, imposing reciprocal tariffs ranging from 10% to 41% on imports from numerous countries and foreign locations.

 

The new import duty rates, which will commence in seven days, affect 69 trading partners.

 

Trump imposed steep tariffs on exports from several trading partners, including Canada, Brazil, India, and Taiwan, while extending the deadline for a tariff deal with Mexico by an additional 90 days.

 

The executive order specified rates such as a 35% duty on many goods from Canada, 50% for Brazil, 25% for India, 20% for Taiwan, and 39% for Switzerland.

 

The full list of tariffs for each country is available through this link.

Source: The Guardian, DVZ, The White House, Reuters