Dozens of countries face higher levies on their exports to the US as Donald Trump's latest wave of country-specific tariffs came into effect at one minute past midnight Washington time on Thursday. The sweeping 'reciprocal' rates, announced a week ago, range from 41% on Syria to 10% for the UK, applied on top of existing tariffs.
India's 25% tariff rate could rise to a total of 50% after Trump signed an executive order imposing an additional levy in retaliation for India's purchase of oil from Russia. Delhi has 21 days to respond. Trump has threatened to use the same tactic on other countries that supply Russia.
South Korea, which secured a reduction via negotiations, faces a baseline rate that remains subject to further adjustments. The Swiss president, Karin Keller-Sutter, was in Washington for two days of meetings to try to reverse a 39% levy that blindsided the government.
Trump claimed on social media that billions of dollars would flow into the US as a result of the tariffs, though the duties are payable on import and usually passed on to consumers. The president also warned of a 100% tariff on semiconductor chips imported from countries not producing in America.
Some trading partners secured reductions via negotiations, including the UK, Thailand, Cambodia, Vietnam, Indonesia, the Philippines, Japan, South Korea, Pakistan and the EU. Canada faces a total rate of 35%, while Mexico avoided an increase with a 90-day extension. China faces a 30% rate with a separate deadline of 12 August.
