Updated Thu, Jul 31, 2025, 8:26 PM 4 min read
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The White House took a step forward with President Trump’s plan to remake the trade landscape by releasing new details Thursday evening that included a raft of new tariff rates now formally authorized by executive order, which set levels from 10% to 40% on nearly every global trading partner.
The move represents a giant shakeup in the US's trade order, with outlined rates that range from a 35% tariff on Canada (up from 25% currently) to rates above 30% on nations from South Africa to Switzerland.
But there's a last minute catch, as nearly all these new rates (except for Canada's) will not go into effect for seven days, instead of a midnight Friday deadline Trump had previously said.
"These modifications shall be effective ... on or after 12:01 a.m. eastern daylight time 7 days after the date of this order," reads the now signed order.
The new tariff rate on Canada is under a different order focused on illicit drugs and and will take effect Friday, as originally planned.
The order also allows for an additional delay, with lower, previous rates applied to goods that are loaded onto ships before Aug. 7 that then enter the United States before Oct. 5.
But once the new tariffs are in effect, they will be far-reaching.
India, after initial high hopes for a deal that have bogged down in recent weeks, is set to face a 25% rate though negotiators there now appears to have another week to make offers.
Taiwan is another top US trading partner and is set to see a 20% rate.
The White House documentation released Thursday also confirmed some of the parameters of recent deals including 19%-20% rates on a range of Southeast Asian nations and an unchanged 10% rate on the United Kingdom.
Dozens of other nations also saw their tariff rates upped to 15% from 10% — in line with deals sketched out in recent days that included that headline 15% tariff rate on the European Union, South Korea, and Japan.
The order states that some countries are on the verge of a deal but others have made insufficient offers "to align sufficiently with the United States on economic and national security matters" and will therefore be subject to the higher rates.
But some nations were not included in Tuesday’s release — those omitted included many nations with which the US currently has a trade surplus — who are set to see their rates remain at 10%, in a surprise relief for some after comments from Trump in recent days suggested 15% would be his new minimum.
Thursday’s order also includes a focus on the growing issue of transhipping, promising an additional tariff of 40 percent for any goods deemed “to have been transshipped to evade applicable duties” without providing a further definition.
6 months ago
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