4 August 2025
U.S. President Donald Trump has issued a sweeping executive order imposing steep import tariffs on dozens of trading partners. By ILM.
The move comes as the country’s imposed deadline for establishing trade deals passes without resolution for many countries.
Under the order, new tariff rates include a 35% duty on a range of goods from Canada, 50% on exports from Brazil, 25% from India, 20% from Taiwan and 39% on Swiss products.
The order lists 69 countries facing increased import duties, ranging from 10% to 41%, due to come into effect within seven days.
Some countries had reached agreements with the U.S. administration to reduce tariffs prior to the deadline, while others did not have the opportunity to negotiate.
Goods from all countries not specified in the order will face a 10% U.S. import tax, though Trump has previously suggested that this rate could rise further.
The administration indicated that more trade negotiations are ongoing, and additional deals could be announced. According to the executive order, some countries failed to present offers that met U.S. demands on addressing trade imbalances or aligning with American positions on economic and national security issues.
Canadian Prime Minister Mark Carney expressed disappointment over the move, describing it as harmful to Canadian jobs and trade diversification efforts.
Mexico, meanwhile, secured an extension to its existing trade agreement, avoiding a planned 30% tariff on most non-automotive and non-metal goods that comply with the U.S.-Mexico-Canada Agreement (USMCA). Talks between the two governments are ongoing.
India faces a 25% tariff following stalled negotiations, particularly over agricultural market access. The Trump administration has also signalled possible additional penalties in response to India’s continued purchases of Russian oil.
Further updates and international reactions are expected as trading partners assess the implications of the U.S. decision.