Trump Imposes Tariffs on Multiple Countries

Published on 8.1.25

  US President Donald Trump has imposed tariffs on multiple countries, including Canada, with rates ranging from 10% to 41%. The USMCA agreement is exempt, but transshipped goods may face up to 40% tariffs. Trade talks with Mexico have been extended by 90 days, delaying a planned tariff hike. Tariffs of up to 50% on Mexican steel, aluminum, and copper will remain in place. Economists warn that the duties could fuel inflation, while Canadian Prime Minister Mark Carney expressed disappointment over the imposition of a 35% tariff on Canada. The US has also raised tariffs on India by 25%, Syria by 41%, Laos and Myanmar by 40%, Switzerland by 39%, Iraq and Serbia by 35%, Algeria, Bosnia and Herzegovina, Libya, and South Africa by 30%.

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