- New rates vary from 10% to 41% depending on the country.
- Revised rates come into force in seven days.
- Canada, India, Brazil, Switzerland faces steep prices.
Washington: US President Donald Trump announced a new wave of steep import rights, targeting dozens of countries – including Pakistan with 19% import rights, before a trade deadline on Friday.
This decision is one of its wider efforts to shake up global trade rules. Pakistan now joins a list of 69 nations whose goods will be faced with new American rates, ranging from 10% to 41%, from next week.
Trump said new prices are intended to repair what he considers that unjust commercial imbalances and to protect American economic and security interests.
Trump has published an executive decree listing higher import rights from 10% to 41% from seven days for 69 business partners when approaching the deadline at 12:01 HAE (0401 GMT). Some of them had concluded tariff reduction agreements, and some did not have the opportunity to negotiate with their administration.
The ordinance said that goods from all other countries not listed in an annex would be subject to a price rate of 10% American.
Trump’s order said that certain business partners: “Despite negotiations, have offered conditions which, in my opinion, do not sufficiently deal with imbalances in our commercial relationship or have not sufficiently aligned with the United States on economic and national security issues.”
Trump made a separate prescription for Canada, which increases the rate on Canadian goods subject to 35% fentanyl rates, going from 25% before, saying Canada had “failed to cooperate” in reducing fentanyl flows in the United States.
The higher prices on Canadian goods were strongly contracted with Trump’s decision to grant a 90 -day stay at higher prices of 30% on many goods to give more time to negotiate a wider commercial pact.
An American official told journalists that more commercial transactions had not yet been announced because Trump’s higher “reciprocal” rate rates had to take effect.
“We have agreements,” said the manager. “And I don’t want to get ahead of the President of the United States to announce these agreements.”
Regarding the steep prices on Canada’s goods, the second largest American trading partner after Mexico, the official said that Canadian officials “had not shown the same level of constructivity we saw on the Mexican side”.
The extension of Mexico avoids a price of 30% on most non-auto Mexican goods and non-metallic in accordance with the American-Mexican-Canala Agreement on trade and came after a call Thursday morning between Trump and Mexican President Claudia Sheinbaum.
“We have avoided the increase in the price announced for tomorrow,” said Sheinbaum in a social media post, adding that the Trump call was “very good”.
About 85% of American imports in Mexico comply with the original rules described in the USMCA, protecting them by 25% of fentanyl rates, according to the Ministry of the Economy of Mexico.
Trump said the United States would continue to take a 50% rate from Mexican steel, aluminum and copper, and a 25% rate on Mexican Autos and on goods that are not compliant with USMCA subjected to prices related to the American fentanyl crisis.
“In addition, Mexico has agreed to immediately terminate its non -tariff trade barriers, there were many,” Trump said in a social position without providing details.
Deal Korea, India Discord
South Korea agreed Wednesday to accept a 15% rate on its exports to the United States, including cars, down compared to 25% threatened, as part of an agreement which includes an engagement to invest $ 350 billion in American projects to choose by Trump.
But the goods of India seemed to go to a price of 25% after the talks bewildered access to the agriculture sector of India, drawing a higher threat from Trump which also included an unpertified sanction for Russian oil purchases.
Although negotiations with India are continuing, New Delhi has promised to protect the country’s high intensity agricultural sector, triggering the indignation of the opposition party and a crisis in the roupie.
Friday, the deployment of Trump of higher import taxes comes in the middle of additional evidence that they started to increase the prices of consumer goods.
The data of the trade department published Thursday showed that the prices of furniture and sustainable domestic equipment jumped by 1.3% in June, the biggest gain since March 2022, after having increased by 0.6% in May. The recreational prices of goods and vehicles increased by 0.9%, the most since February 2024, after being unchanged in May. The prices of clothing and shoes increased by 0.4%.
Difficult questions of judges
Trump struck Brazil on Wednesday with a steep rate of 50% when he intensified his fight with the greatest economy in Latin America about his friend and former president Jair Bolsonaro, but softened the blow by excluding sectors such as planes, energy and orange juice of heavier vegetables.
The approach of the deadline for Trump’s prices took place while the judges of the Federal Court of Appeal have strongly questioned the use by Trump of an emergency power law to justify his high prices of up to 50% on almost all business partners.
Trump invoked the 1977 International Economic Economic Powers to declare an emergency on the growing American trade deficit and impose its “reciprocal” prices and a distinct emergency of fentanyl.
The International Commerce Court judged in May that the actions exceeded its executive authority and the questions of the judges during the oral arguments before the American Court of Appeal for the Federal Circuit in Washington indicated another skepticism.
US Treasury Secretary Scott Bessent said the United States earlier that he had the problem of a trade agreement with China, but that he is not “made 100%” and still needs Trump approval.
American negotiators “pushed a little” over two days of commercial talks with the Chinese in Stockholm this week, Bessent said in an interview with CNBC.
China is faced with a deadline of August 12 to reach a sustainable tariff agreement with the administration of Trump, after Beijing and Washington concluded preliminary agreements in May and June to put an end to the Tit-For-Tat prices and a cut of rare earth minerals.
