A fresh “baseline tariff” of 10 percent will apply to economies around the world, with steeper rates tailored to those that Washington deemed as bad actors.
- New tariffs -
The steeper additional tariffs impact major US trading partners, with the European Union facing a 20 percent rate and China a 34 percent figure.
Other key partners include India with a 26 percent added rate, South Korea at 25 percent and Japan at 24 percent.
The numbers, he said, are “approximately half of what they are and have been charging us.”
Major US partners Canada and Mexico, however, are not subject to the new tariffs, White House officials said Wednesday.
But goods entering the world's biggest economy under the US-Mexico-Canada Agreement will continue to be exempted.
The White House also said that the latest country-based tariffs do not stack atop of sector-specific ones, like those already applied to imports of steel and aluminum.
- Other tariffs -
Trump earlier imposed 25 percent charges on steel and aluminum imports too, which will be expanded to impact canned beer and empty aluminum cans from Friday.
White House officials said Wednesday that the president is mulling similar moves on semiconductors, pharmaceuticals and possibly critical minerals.
- Small parcels -
The rule has faced heavy scrutiny as US officials pointed to the growth of Chinese-founded online retailers Shein and Temu as a factor behind a surge of shipments using the exemption.
Products imported under the “loophole” from China would be subject to a duty rate of either 30 percent of their value or $25 per item, increasing to $50 per item after June 1. The policy shift kicks in May 2, according to Trump’s executive order.
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