US tariffs on dozens of countries to take effect in seven days, executive order says

Syria's 41 per cent tariff among the heaviest, while Iraq is not far off at 35 per cent

US President Donald Trump announced the so-called retaliatory tariffs, which Washington says are aimed at addressing trade imbalances, in April. AFP

US President Donald Trump signed an executive order on Thursday imposing “reciprocal tariffs” ranging from 10 per cent to 41 per cent on dozens of countries.

Mr Trump had threatened to bring America's tariffs on global trading partners into effect on August 1, but delayed the move by a week just hours before the deadline.

Among Middle East countries, Syria had one of the heaviest tariff rates imposed at 41 per cent, as did Iraq at 35 per cent and Libya at 30 per cent. Jordan and Israel were both hit with 15 per cent.

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Trading partners not listed in Friday's executive order will be subject to a duty of 10 per cent.

The White House said Canada's tariffs would be raised to 35 per cent due to its “continued inaction and retaliation”. But the US will keep in place an exemption for goods traded under the rules of the US-Mexico-Canada trade agreement.

Earlier on Thursday, Mr Trump said it would be “very hard” to strike a trade deal with Canada after it announced it was ready to recognise Palestine as a state.

The executive order highlighted that certain foreign trading partners have agreed to, or were on the verge of concluding, “meaningful trade and security agreements with the United States”.

“Goods of those trading partners will remain subject to the additional ad valorem duties provided … to this order until such time as those agreements are concluded,” it said.

Mr Trump announced the so-called retaliatory tariffs, which Washington says are aimed at addressing trade imbalances, in April. He then enacted a series of pauses to allow for trade negotiations.

In recent weeks, the President has sent out dozens of letters to countries around the world inviting them to negotiate trade deals or be subject to tariffs.

The US has recently struck deals with the EU, the UK, Japan and South Korea.

“President Trump is using tariffs as a necessary and powerful tool to put America First after many years of unsustainable trade deficits that threaten our economy and national security,” the White House said.