{"id":38433,"date":"2025-08-01T03:25:08","date_gmt":"2025-08-01T03:25:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/38433\/"},"modified":"2025-08-01T03:25:08","modified_gmt":"2025-08-01T03:25:08","slug":"trump-signs-executive-order-imposing-new-tariffs-on-a-number-of-trading-partners","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/38433\/","title":{"rendered":"Trump signs executive order imposing new tariffs on a number of trading partners"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

U.S. President Donald Trump engaged in a phone conversation with Mexican President Claudia Sheinbaum on trade on Thursday morning.Mark Schiefelbein\/The Associated Press<\/p>\n

U.S. President Donald Trump<\/a> on Thursday signed an executive order that set new tariffs on a wide swath of U.S. trading partners to go into effect on Aug. 7 \u2013 the next step in his trade agenda that will test the global economy and sturdiness of American alliances built up over decades.<\/p>\n

The order was issued shortly after 7 p.m. on Thursday evening. It came after a flurry of tariff-related activity in the last several days, as the White House announced agreements with various nations and blocs ahead of the president\u2019s self-imposed Friday deadline. The tariffs are being implemented at a later date in order for the rates schedule to be harmonized, according to a senior administration official who spoke to reporters on a call on the condition of anonymity.<\/p>\n

After initially threatening the African nation of Lesotho with a 50 per cent tariff, the country\u2019s goods will now be taxed at 15 per cent. Taiwan will be tariffed at 20 per cent, Pakistan at 19 per cent and Israel, Iceland, Fiji, Ghana, Guyana and Ecuador among the countries with imported goods taxed at 15 per cent.<\/p>\n

Trump had announced a 50-per-cent tariff on goods from Brazil, but the order was only 10 per cent as the other 40 per cent were part of a separate measure approved by Trump on Wednesday.<\/p>\n

The order capped off a hectic Thursday as nations sought to continue negotiating with Trump. It set the rates for 68 countries and the 27-member European Union<\/a>, with a baseline 10 per cent rate to be charged on countries not listed in the order. The senior administration official said the rates were based on trade imbalance with the U.S. and regional economic profiles.<\/p>\n

Trump raises tariffs on some Canadian goods to 35%<\/a><\/p>\n

On Thursday morning, Trump engaged in a phone conversation with Mexican President Claudia Sheinbaum on trade. As a result of the conversation, the U.S. president said he would enter into a 90-day negotiating period with Mexico<\/a>, one of the nation\u2019s largest trading partners, with the current 25 per cent tariff rates staying in place, down from the 30 per cent he had threatened earlier.<\/p>\n

\u201cWe avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,\u201d Mexican leader Claudia Sheinbaum wrote on X after a call with Trump that he referred to as \u201cvery successful\u201d in terms of the leaders getting to know each other better.<\/p>\n

The unknowns created a sense of drama that has defined Trump\u2019s rollout of tariffs over several months, with the one consistency being his desire to levy the import taxes that most economists say will ultimately be borne to some degree by U.S. consumers and businesses.<\/p>\n

\u201cWe have made a few deals today that are excellent deals for the country,\u201d Trump told reporters on Thursday afternoon without detailing the terms of those agreements or nations involved. The senior administration official declined to reveal the nations that have new deals during the call with reporters.<\/p>\n

Trump said that Prime Minister Mark Carney<\/a> had called ahead of 35-per-cent tariffs being imposed on many of his nation\u2019s goods, but \u201cwe haven\u2019t spoken to Canada today.\u201d Trump separately on Thursday amended a previous order to raise the fentanyl-related tariff on Canada from 25 per cent to 35 per cent.<\/p>\n

Judges question legality of Trump\u2019s emergency power use in key test of tariffs<\/a><\/p>\n

Trump imposed the Friday deadline after his previous \u201cLiberation Day\u201d tariffs in April resulted in a stock market panic. His unusually high tariff rates unveiled in April led to recession fears, prompting Trump to impose a 90-day negotiating period. When he was unable to create enough trade deals with other countries, he extended the timeline and sent out letters to world leaders that simply listed rates, prompting a slew of hasty deals.<\/p>\n

Trump reached a deal with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines. His commerce secretary, Howard Lutnick, said on Fox News Channel\u2019s \u201cHannity\u201d that there were agreements with Cambodia and Thailand after they had agreed to a ceasefire to their border conflict.<\/p>\n

Going into Thursday, wealthy Switzerland and Norway were still uncertain about their tariff rates. EU officials were waiting to complete a crucial document outlining how the framework to tax imported autos and other goods from the 27-member state bloc would operate. Trump had announced a deal Sunday while he was in Scotland.<\/p>\n

Trump said as part of the agreement with Mexico that goods imported into the U.S. would continue to face a 25 per cent tariff that he has ostensibly linked to fentanyl trafficking. He said autos would face a 25 per cent tariff, while copper, aluminum and steel would be taxed at 50 per cent during the negotiating period.<\/p>\n

Explainer: What are the current tariffs between Canada and the U.S.?<\/a><\/p>\n

He said Mexico would end its \u201cNon Tariff Trade Barriers,\u201d but he didn\u2019t provide specifics.<\/p>\n

Some goods continue to be protected from the tariffs by the 2020 U.S.-Mexico-Canada Agreement, or USMCA, which Trump negotiated during his first term.<\/p>\n

But Trump appeared to have soured on that deal, which is up for renegotiation next year. One of his first significant moves as president was to impose tariffs on goods from both Mexico and Canada earlier this year.<\/p>\n

U.S. Census Bureau figures show that the U.S. ran a US$171.5-billion trade imbalance with Mexico last year. That means the U.S. bought more goods from Mexico than it sold to the country.<\/p>\n

The imbalance with Mexico has grown in the aftermath of the USMCA, as it was only US$63.3-billion in 2016, the year before Trump started his first term in office.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: U.S. President Donald Trump engaged in a phone conversation with Mexican President Claudia…\n","protected":false},"author":2,"featured_media":38434,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[901,888,902,879,877,903,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,43,889,890,884,904,885,909,910,44,912,907,911,905,908,882,898,899,714,897,906,865,61,41,39,42,40,900,892,886,883,913],"class_list":["post-38433","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-headlines","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-news","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/38433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=38433"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/38433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/38434"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=38433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=38433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=38433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}