US President Donald Trump on Friday announced a fresh round of import levies, with rates going as high as 41% on Syria and a sharp hike on Canadian imports from 25% to 35%.
For India, tariffs will remain unchanged at 25%, as announced earlier this week. However, Pakistan has received a tariff cut, with duties reduced from 29% to 19% following the recent US-Pakistan oil development partnership deal.
The new tariffs are set to take effect in one week and include sector-specific duties on copper for trading partners.
As per Trump’s directive, the “universal” tariff of 10% on imports into the US, first imposed on April 2, will continue to apply only to countries with which the US has a trade surplus.
The move underscores Trump’s aggressive trade strategy, combining penalties for some countries and incentives for others, as he continues to use tariffs as a bargaining tool in international trade negotiations.