Trump imposes high customs duties on dozens of countries

US President Donald Trump imposed high customs duties on imports from dozens of commercial partners, including Canada, Brazil, India and Taiwan, to proceed with his plans to rearrange the global economy before a deadline previously set to conclude commercial agreements that came today Friday.

Trump determined in a presidential executive order customs duties, including 35% on many commodities from Canada, 50% on Brazil, 25% for India, 20% for Taiwan and 39% for Switzerland.

The matter stipulated that high customs duties rates on imports range between 10 and 41 % within seven days for a total of 69 commercial partners, as of the deadline for the deadline at 12:01 am US ES (0401 GMT).

Some of these countries have reached agreements to reduce customs duties, while no opportunity to negotiate with the Trump administration. The US President excluded some of the goods to be shipped next week.

Goods will be subject to all other countries that are not included in the amended fees list, to a 10 %American import tax. Trump said earlier that this percentage could rise.

The US administration has alluded to prepare for more trade agreements as it seeks to fill the trade deficit and enhance local manufacturing.

Trump, the Republican Party, used the emergency authorities available to him, pressed foreign leaders and moved forward in commercial policies that caused a wave of sale in the markets when it was announced for the first time in April.

Judges in US federal courts questioned Thursday about the authority to use Trump to the emergency authorities to justify the imposition of customs duties that amounted to 50 % on almost most of the commercial partners.

Today, Friday, Asian stocks are heading to record the worst weekly performance since April after the announcement of the newer fees.

European stocks recorded the lowest level in three weeks today, Friday, with investors focusing on the impact of new customs duties.

Switzerland, Taiwan and South Africa

Switzerland said it would seek a “negotiating solution” with the United States, and Lay Cheng-Tah, President of Taiwan, said on Friday that the new customs duties rate of 20 % set by the Trump administration on goods imported from the island “temporary” and that the government expects to negotiate a lower percentage.

Parks Tao, Minister of Commerce of South Africa, said that he is seeking a “real and real intervention” to protect jobs and economics from the consequences of customs duties of 30 % imposed by the United States on his country.

And it was stated in Trump that some commercial partners “and despite their participation in negotiations, they offered conditions, in my opinion, do not address enough imbalances in our commercial relationship, or did not comply adequately with the United States in economic issues and national security issues.”

It is expected that other details will be announced later, including the “rules of origin” that will determine the products that may face higher customs duties.

Canada, Mexico and India

Trump issued a separate order related to Canada to raise the percentage of goods that are subject to fees related to Fntanil to 35 % from 25 % previously, and said that Canada “did not cooperate” in reducing the flow of illegal drugs to the United States.

High customs duties on Canadian goods contradict Trump’s decision to grant Mexico a 90 -day exemption from higher customs duties of 30 % on many goods to allow time to negotiate a wider trade agreement.

Canadian Prime Minister Mark Carney said he was disappointed about Trump’s decision, and pledged to take steps to protect jobs in his country and diversify exports.

“The Canadian government will focus its focus on what it can control, which is to strengthen the power of Canada, while we will continue to negotiate with the United States on our trade relations.”

Trump said he will continue to impose 50 % fees on steel, aluminum, and copper from Mexico and 25 % on cars, and on goods that are not covered by the United States Convention on Mexico Canada and subject to fees related to the Fintanel crisis in the United States.

“In addition, Mexico agreed to the immediate end of the trade barriers not related to customs duties, which are multiple” without providing more details, “Trump said in a post on the Truth Social platform.

As for the goods from India, it seems that the fees imposed on them will reach 25 % after negotiations have fallen due to the issue of arrival in the Indian agriculture sector, as Trump threatened higher fees that included sanctions that he did not specify on India because of its purchase of oil from Russia.

New Delhi pledged to protect the country’s agricultural sector, and Trump’s threat to impose the highest wave of anger from the opposition party and caused the rupees to fall.

Brazil and China

Trump imposed customs duties on Wednesday of 50 % on Brazil’s exports to his country at a time when he ascended the tension between the two countries due to the prosecution of former President Jayer Bolsonaro, but he reduced the impact of this by excluding some sectors.

As for China, the deadline for a agreement on customs duties with the Trump administration extends to August 12, after Beijing and Washington reached initial agreements in May and June to end the mutual imposition of high fees and stop rare ground metal exports.

A US official told reporters that the two sides were making progress towards an agreement.