Donald Trump has signed an order for new tariffs on select trading partners, just hours before the pause on his “reciprocal” tariffs scheme was due to lift.
But the “baseline” tariff on Australian exports remains unchanged, at 10 per cent, for now.
The US president announced the reciprocal tariffs, which vary from country to country, on April 2. But they have been on pause to provide time to negotiate deals.
On Thursday evening, local time, just before the pause expired, the White House published a list of new tariffs for dozens of countries.Â
“The president has determined that it is necessary and appropriate to modify the reciprocal tariff rates for certain countries,” a White House statement said.
The hardest hit countries are Syria (41 per cent), Myanmar (40 per cent), Laos (40 per cent) and Switzerland (39 per cent).Â
The tariff on Canadian products is rising from 25 per cent to 35 per cent.
Australia’s exports to the US have been subject to the minimum 10 per cent “baseline” tariff since April.Â
Mr Trump recently suggested the baseline tariff could increase to 15 or 20 per cent.
But the White House says that is not immediately changing, meaning the tariff on Australian products remains at 10 per cent for now.
Tracking Trump’s tariffs
“Reciprocal” tariffs: Country-specific tariffs between 11-50pc were imposed in April, then paused. Some have now been modified. They are due to take effect on August 7.
“Fentanyl” tariffs: 25pc tariffs on Canada and Mexico have been in place since March, with some exemptions. The tariff on Canadian goods is increasing to 35pc.
China tariffs: A 145pc tariff on Chinese imports has been paused until mid-August. For now, minimum 30pc tariffs apply, with some exemptions.
Sector-specific tariffs: Steel, aluminium and (from August 1) copper products have 50pc tariffs. Imported cars and parts have 25pc tariffs.
Deals: The US say it has made deals with at least eight trading partners, including the UK, EU and six Asian nations. They include tariffs of 10-20pc.
“Baseline” tariff: Almost all other imports, including those from Australia, are subject to the 10pc “baseline” tariff. Donald Trump has suggested it could rise to 15-20pc, but it remains unchanged for now.
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