Trump imposes huge customs duties for goods from dozens of countries. Strikes some of the poorest nations in the world
Donald Trump. Credit Line: Jacquelyn Martin / AP / Profimedia
US President Donald Trump signed a decree on Thursday evening imposing exorbitant customs tariffs for dozens of commercial partners with whom the United States estimates that they have more or less marked commercial deficit, AFP, quoted by Agerpres.
The new customs rates vary between 11%and 41%, the highest being applied to Syria, in EU time, Japan or South Korea will be subjected to a 15%surcharge, a measure aimed at “restructuring global employees”, according to a document broadcast by the White House.
These rates are to enter into force on August 7, according to the order, and not from August 1, as initially established by the president.
In general, most of the countries mentioned in the decree are subjected to 15%customs tariffs, several countries having higher taxes, such as South Africa by 30%, Serbia with 35%and Switzerland by 39%.
In turn, Canada is also targeted by a separate decree, which increases from 25% to 35% the rates for its products imported by the United States.
The new tariff scheme
- The “universal” tariff for the goods entering the US will remain at 10%, the same level that has been implemented on April 2, but it only applies to the countries with which the US have commercial surplus, that is, it exports more than imports, explains CNN.
- A new tariff of 15% applies to countries with commercial deficit to the US – about 40 states.
- Over a dozen countries have rates over 15%, either following bilateral agreements, or after a decision by Trump. Trump says these countries are considered to have the biggest commercial deficits with the US.
Some of the poorest countries in the world are hit
Some of the poorest and most affected by war countries in the world have been hit by the new rates: Syria, which are facing a tax of 41%; Laos and Myanmar, with 40%rates; Libya, at a rate of 30%; Iraq, with 35%, and Sri Lanka, with 20%, notes The Guardian.
The small African country Lesotho received a modified tariff rate of 15% – in April, it had been affected by the threat of a 50% rate, the largest of all US partner countries.
Trump said the new rates work “very, very good”. In a recent interview with NBC News, he added that it is “too late” for countries mentioned in Thursday to avoid tariffs, but that it is open to offers.
“This does not mean that someone will not come in four weeks and will say that we can reach some kind of agreement,” Trump said.
