TRUMP ANNOUNCED NEW TARIFFS: Dozens of countries on the list, among them Serbia!

The White House has announced new tariffs for dozens of countries that have not yet reached a trade deal with the United States by the August 1 deadline, which is just hours away. The measures are set to take effect in seven days.

This was supposed to be the day that Trump’s so-called “Liberation Day” tariffs went into effect. Instead, the White House announced a series of new tariffs on partners, continuing his global trade war.

Rates on some imported products reach as high as 50%. So far, Trump has announced eight deals, including agreements with the EU, Japan and the UK, though the details of all the agreements remain unclear. Few nations have been spared.

Canadian imports will face some of the highest taxes, at 35%.

Earlier, Mexico was given another ninety days to reach a deal.

Thailand, which was facing a 36% tariff, is now facing a 19% tariff, which is in line with competitors in the region such as Indonesia and the Philippines.

Taiwan is also facing 20% tariffs, but it is not yet clear whether its chip industry will face special sector-specific tariffs.

Which countries have the highest tariffs?

Here are the highest tariffs that Trump announced to US trading partners.

Syria leads with a new tariff rate of 41% – a huge figure for a country struggling to recover from a recently ended 14-year civil war.

Laos and Myanmar are next on the list, with 40% tariffs each. Experts warn that Trump’s new tariffs are expected to hit Asian economies especially hard.

Switzerland is at 39%. As mentioned earlier, it is the only country actively trading with the US to receive such high tariffs.

Iraq and Serbia receive tariffs of 35%.

Four countries are tariffed at a rate of 30%: Algeria, Bosnia and Herzegovina, Libya and South Africa.

What are Trump’s new tariffs?
Trump’s new tariffs, as announced in his executive order and published on the White House website, cover more countries.

10% – Brazil, Falkland Islands, United Kingdom and all other countries not listed in the executive order

15% – Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Ivory Coast, Democratic Republic of Congo, Ecuador, Equatorial Guinea, Fiji, Ghana, Guyana, Iceland, Israel, Japan, Little Jordan, Lesotho, Madambik, Mavrikistan, Liembash Namibia, Nauru, New Zealand, Nigeria, North Macedonia, Norway, Papua New Guinea, South Korea, Trinidad and Tobago, Turkey, Uganda, Vanuatu, Venezuela, Zambia, Zimbabwe

18% – Nicaragua
19% – Cambodia, Indonesia, Malaysia, Pakistan, Philippines
20% – Bangladesh, Sri Lanka, Thailand, Taiwan, Vietnam
25% – Brunei, India, Kazakhstan, Moldova, Tunisia
30% – Algeria, Bosnia and Herzegovina, Libya, South Africa
35% – Iraq, Serbia
39% – Switzerland
40% – Laos, Myanmar (Burma)
41% – Syria

There are some significant exceptions:

Canada faces a 35% tariff that goes into effect in less than an hour, August 1

Mexico faces a 25% tariff on fentanyl, a 25% tariff on cars and a 50% tariff on steel, aluminum and copper – all in 90 days.

Goods from the European Union face tariffs of 0% to around 15%. These rates go into effect on August 7.

Canada’s 35% rate takes effect

The 35% tariff imposed on Canada has now taken effect – and the deadline for reaching an agreement with Washington, August 1, has passed.

However, for the remaining more than 70 countries, the new tariffs are not supposed to take effect now – but on August 7, according to Trump’s latest executive order.

Goods loaded on ships by August 7 and those already in transit will also not be affected by the rates if they arrive in the US before October 5.