United States President Donald Trump has issued a new executive order imposing higher tariffs on a broad list of countries, signalling a significant change in US trade policy designed to support American industries. The order, announced just hours before a previously set deadline, introduces import duties ranging from 10% to 50%, set to take effect on 7 August. The measure is part of Trump’s wider strategy to pressure foreign governments into new trade agreements and to reduce the US trade deficit. “There’s 200 countries,” Trump said. “You can’t talk to all of them.”
The new tariff regime introduces significantly higher rates on exports to the US from 69 countries and regions. Among the steepest duties are:
• Syria: 41%
• Brazil: 50% (excluding key sectors like aircraft and aluminium)
• Switzerland: 39%
• India: 25%
• Taiwan: 20%
• Canada: 35%
• South Africa: 30%
• Iraq: 35%
• China and Mexico: Temporarily exempt but expected to face increases
Meanwhile, a few nations saw slight relief. Pakistan's tariff was reduced from 29% to 19% following the conclusion of a bilateral trade agreement that includes US support for developing its oil sector. Similarly, the Philippines saw a marginal cut from 20% to 19%.
Trump’s administration has finalised or nearly completed trade agreements with several countries in recent days. Notably:
• South Korea secured a revised deal, facing a 15% tariff — lower than the previously threatened 25%.
• Agreements were also struck with the European Union, United Kingdom, Indonesia, Vietnam, and Philippines, although many lack detailed implementation frameworks.
Despite these developments, most countries listed in the executive order have not reached trade agreements with Washington. As a result, they face steep tariffs across a wide range of goods. Countries not named in the annex will be subject to a standard 10% tariff.
Smaller and developing countries appear to be particularly affected. Lesotho, a tiny African nation, had previously been hit with a 50% duty in April. Though that was delayed, it now faces a 15% tariff that has reportedly devastated its apparel industry, leading to widespread job losses.
Other countries such as Sri Lanka (20%), Bangladesh (20%), and Myanmar (40%) have also been burdened with steep tariffs. “The threat alone has upended sectors in some of these economies,” analysts note.
While Trump claims the tariffs will revitalise American manufacturing and create a level playing field, economists remain sceptical. Many argue that the cost of these duties is ultimately being borne by US businesses and consumers.
According to the Associated Press, the tariffs are already contributing to inflation, with imported goods, including electronics, furniture, and consumer appliances becoming more expensive. Businesses also face uncertainty due to unclear timelines and pending negotiations.
Initially, the tariffs were set to begin on 1 August. However, the White House announced a short delay late Thursday evening, pushing implementation back by seven days to allow updates to the tariff list. The administration has stated that no further extensions will be granted.
The updated tariff list includes 68 countries and the European Union, with rates ranging from 10% to 50%. Countries like Japan and the UK, despite nearing trade deals, still face 15% duties. Goods from the EU with a Column 1 duty rate below 15% will face tariffs adjusted accordingly.
Despite the last-minute nature of the executive order, Trump remains firm on his trade stance. “It’s about putting America first,” he declared earlier this week, defending the move as necessary for long-term economic resilience.
Selected Tariff Highlights
• Brazil: 50%
• India: 25%
• Switzerland: 39%
• Syria: 41%
• Pakistan: 19% (reduced)
• Philippines: 19% (reduced)
• South Korea: 15% (deal concluded)
• European Union: Tiered tariffs depending on pre-existing duty rates
• United Kingdom: 10%
