By Jamie Martin
President Trump has issued a new executive order raising import duties on goods from 69 countries. Tariffs now range from 10% to 50%, aiming to rebalance U.S. trade and support domestic industries.
Canada’s tariffs were increased to 35% over drug flow concerns, though USMCA-covered products remain exempt. Prime Minister Mark Carney noted that diplomatic tensions, including Canada's stance on Palestinian statehood, strained the trade dialogue.
Brazil's overall tariff rate climbed to 50%, although many agricultural exports—such as fertilizers, orange juice, and nuts—were spared. Brazil’s agriculture group CNA warned these tariffs could cause a $5.8 billion revenue loss annually.
Tariffs were also imposed on India (25%), Taiwan (20%), and Switzerland (39%). Products from countries not on the list will now carry a 10% U.S. import duty.
Some nations, including China, Japan, the EU, and Vietnam, have already reached agreements with the U.S., avoiding the new penalties. However, Faith Parum from the American Farm Bureau Federation said, “Trade deals take time, and we’re still waiting on clear details for agriculture.”
Meanwhile, Mexico secured a 90-day extension, avoiding a 30% tariff on goods compliant with the USMCA. Still, U.S. duties remain on Mexican steel, copper, and non-compliant auto exports.
These changes could impact agricultural exports, supply chains, and global trade flows in the months ahead.
Photo Credit: istock-fangxianuo
Categories: National