President Donald Trump on Thursday signed an executive order that formalizes new tariffs on dozens of nations, plus the 27-member European Union.
The reciprocal tariffs were announced in a July 31 executive order that will go into effect in seven days, on Aug. 7. The action comes just hours before the Aug. 1 deadline for U.S. trading partners to reach trade agreements.
The rates laid out in the executive order range from 10 percent to as high as 41 percent, depending on whether a nation has reached an agreement with the U.S. and the nature of that agreement.
“Some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States, thus signaling their sincere intentions to permanently remedy … trade barriers … and to align with the United States on economic and national security matters,” Trump said in the executive order….
Trump Announces New Tariff Rates for Dozens of Countries Before Aug. 1 Deadline
