Trump announces new tariff plan for dozens of countries hours before deadline - but delays them yet again
Trump raises Canada tariff to 35% as US launches new wave
- The Trump administration announced a new trade policy and tariff plan, setting different rates based on a country's trade balance with the US.
- Goods from countries with a trade surplus will face a 10 per cent tariff, while those with a trade deficit will be subject to at least a 15 per cent tariff.
- More than a dozen nations with the highest trade deficits, including Syria (41 per cent) and Switzerland (39 per cent), will face tariffs exceeding 15 per cent.
- The tariff on Canadian goods increased from 25 per cent to 35 per cent, with the White House citing Canada's "continued inaction and retaliation."
- The new policy, initially set for 1 August, has been delayed until 7 August to allow US Customs and Border Protection time to implement the changes.