President Trump signed an order that extends trade agreement deadlines for dozens of countries. Under the new order, reciprocal tariffs will take effect on August 7.
“I have received additional information and recommendations from various senior officials on, among other things, the continued lack of reciprocity in our bilateral trade relationships and the impact of foreign trading partners’ disparate tariff rates and non-tariff barriers on U.S. exports, the domestic manufacturing base, critical supply chains, and the defense industrial base,” Trump’s order reads. “I also have received additional information and recommendations on foreign relations, economic, and national security matters, including the status of trade negotiations, efforts to retaliate against the United States for its actions to address the emergency declared in Executive Order 14257, and efforts to align with the United States on economic and national security matters.”
According to the order, some trading partners “have agreed to, or are on the verge of agreeing to,” significant trade and security commitments with the United States.
Tariff rates listed in the order range from 10% to 41% and affect 66 countries.
Canada was not included in the latest tariff order. President Trump signed a separate order addressing trade with the country, increasing its tariff rates from 25% to 35%.
“Canada has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs, and it has retaliated against the United States for the President’s actions to address this unusual and extraordinary threat to the United States,” the White House said in a statement. “In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency.”
