Trump Imposes Steep Tariffs, Syria Faces 41% Rate, Mexico Gets Trade Deadline Extension

On Thursday, U.S. President Donald Trump enacted an executive order that introduced reciprocal tariffs ranging from 10% to 41% on imports from numerous countries, with Syria facing the highest levy at 41%. The new tariffs, designed to address trade imbalances, will take effect in seven days, impacting a range of nations, including some of the world’s most economically vulnerable. Switzerland will see a 39% tariff, while Laos and Myanmar each face 40%. Libya and Iraq are slated for 30% and 35% rates, respectively, and Sri Lanka will encounter a 20% levy. India’s exports to the U.S. will be subject to a 25% tariff, South Africa 30%, and Taiwan 20%.

Brazil, despite a baseline 10% tariff, faces additional 40% duties on certain goods due to a prior order targeting the country over its prosecution of former President Jair Bolsonaro. Canada’s tariff rate has increased from 25% to 35%, a move prompted by Ottawa’s recent steps toward recognizing a Palestinian state, which Trump suggested could complicate trade negotiations. In contrast, countries like Japan, South Korea, Vietnam, Indonesia, and the Philippines, which have secured preliminary trade agreements with the U.S., will face lower tariffs ranging from 15% to 20%.

The executive order also includes measures to curb transshipping, where goods are routed through third countries to evade tariffs, with a 40% duty applied to such shipments. Goods already in transit or loaded onto ships by August 7 will be exempt from the new rates if they arrive in the U.S. before October 5. Notably, Trump extended the tariff deadline for Mexico by 90 days, maintaining the current 25% rate on most goods, 25% on cars, and 50% on steel, aluminum, and copper, following discussions with Mexican President Claudia Sheinbaum.

China faces a separate tariff deadline of August 12, with ongoing talks to extend a temporary truce on higher rates. White House spokesperson Karoline Leavitt noted that countries not previously notified of their tariff rates would receive formal communication through letters or the executive order. The sweeping tariff hikes, part of Trump’s broader trade policy, continue to reshape global trade dynamics as nations scramble to negotiate deals to mitigate the economic impact.