A few hours before the long-awaited Aug. 1 deadline, President Donald Trump implemented new tariff regimes for dozens of countries worldwide.
The White House introduced a universal tariff of 10 percent for foreign goods entering the United States. This baseline levy will apply to countries with which the United States exports more than it imports, also known as a trade surplus.
A 15 percent tariff rate will be the new floor for countries with which the United States has a trade deficit.
Some countries will face tariffs higher than 15 percent either through trade agreements or because they received letters from the president. Some of these countries include Bangladesh (20 percent), Malaysia (19 percent), Pakistan (19 percent), South Africa (30 percent), and Thailand (19 percent)….
As Aug. 1 Tariff Deadline Arrives, Here Are the Trade Deals Reached so Far
