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.<\/p>\n
But the “baseline” tariff on Australian exports remains unchanged, at 10 per cent, for now.<\/p>\n
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.<\/p>\n
On Thursday evening, local time, just before the pause expired, the White House published a list of new tariffs for dozens of countries.\u00a0<\/p>\n
“The president has determined that it is necessary and appropriate to modify the reciprocal tariff rates for certain countries,” a White House statement said.<\/p>\n
The hardest hit countries are Syria (41 per cent), Myanmar (40 per cent), Laos (40 per cent) and Switzerland (39 per cent).\u00a0<\/p>\n
The tariff on Canadian products is rising from 25 per cent to 35 per cent.<\/p>\n
Australia’s exports to the US have been subject to the minimum 10 per cent “baseline” tariff since April.\u00a0<\/p>\n
Mr Trump recently suggested the baseline tariff could increase to 15 or 20 per cent.<\/p>\n
But the White House says that is not immediately changing, meaning the tariff on Australian products remains at 10 per cent for now.<\/p>\n
Tracking Trump’s tariffs<\/p>\n
“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.<\/p>\n
“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.<\/p>\n
China tariffs: A 145pc tariff on Chinese imports has been paused until mid-August. For now, minimum 30pc tariffs apply, with some exemptions.<\/p>\n
Sector-specific tariffs: Steel, aluminium and (from August 1) copper products have 50pc tariffs. Imported cars and parts have 25pc tariffs.<\/p>\n
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.<\/p>\n
“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.<\/p>\n
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