Donald Trump has signed orders for new tariffs to go into effect in seven days on a wide range of US trading partners, including Mexico, Japan, Taiwan and Australia
Donald Trump insists he has set “excellent” new tariffs on a range of trading partners – but didn’t give any details on these.
The US President today stressed his trade agenda will maintain the global economy and sturdiness of alliances his nation has built up over decades. The White House announced agreements with various nations and blocs ahead of the president’s self-imposed Friday deadline. The tariffs are being implemented at a later date in order for the rates schedule to be harmonised.
Speaking last night, Mr Trump said: “We have made a few deals today that are excellent deals for the country.” However, the world leader did not go into any detail on these, such as the nations involved and his senior administration officials also declined to offer more information when asked by reporters. It comes after Mr Trump recently reignited his feud with Sadiq Khan in front of Keir Starmer, with a savage jibe at the London Mayor.
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The Mirror understands some tariffs have been lowered, and it is thought these include the original 50% threat to Lesotho. It is believed the African nation’s goods will now be taxed at 15%. Our understanding is Taiwan will have tariffs set at 20%, and Pakistan at 19%.
Israel, Iceland, Norway, Fiji, Ghana, Guyana and Ecuador are among the countries with imported goods taxed at 15%. Switzerland would be tariffed at 39%, it is thought. However, Mr Trump, the former businessman, would not be drawn on commenting on exact arrangements for specific nations.
But he did confess: “We haven’t spoken to Canada today,” in a pertinent reference following a fresh jibe at Mark Carney’s nation earlier this week. The US leader had said it would be “very hard” to make a trade deal with Canada after the country became the latest nation to recognise a Palestinian state. He had posted on social media: “Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh’ Canada!!!”
Yet, Mr Trump had announced a 50% tariff on goods from Brazil, but the order was only 10% as the other 40% were part of a separate measure approved by Mr Trump on Wednesday.
One of his first significant moves as president was to impose tariffs on goods from both Mexico and Canada earlier this year. US Census Bureau figures show that the U.S. ran a $171.5 billion trade deficit with Mexico last year.