Global trading partners responded on Friday to President Donald Trump’s new wave of tariffs on dozens of countries, with some welcoming the move after securing favorable terms, while others expressed disappointment as their rates increased.
Trump signed the executive order on Thursday, the eve of the Aug. 1 deadline for trading partners to reach trade agreements with the United States. Levies range from 10 percent to as high as 41 percent, depending on whether a nation has reached an agreement with the United States and the nature of the agreement. These reciprocal tariffs will come into effect on Aug. 7.
Minimizing the trade deficit between the United States and its global partners has been a key pillar of Trump’s trade policy. His administration initially announced tariffs would come into effect on April 9, but that was later extended to Aug. 1, to allow more time for negotiations. In that time, the Trump administration has struck tentative trade agreements with several partners, including the EU, Japan, and the UK….
Global Trade Partners React to New US Tariffs
