The United States has introduced fresh tariffs on imports from more than 90 nations after President Donald Trump’s deadline to finalize trade agreements expired.
Canada faces an increase on select goods, with tariffs rising from 25% to 35%. Prime Minister Mark Carney said he was “disappointed” by the move, although most Canadian products remain exempt under an earlier accord.
Mexico avoided immediate increases, with higher duties delayed for another 90 days. Brazil was hit hardest, as Washington imposed a 50% levy on its exports.
Trump first unveiled the tariff plan in April, sparking uncertainty in global markets. He later postponed implementation to give countries such as the UK time to negotiate trade deals.
“These measures are less severe than the president initially threatened,” said the deputy economics editor.
Under the new rules, U.S. importers must pay the additional duties to the government, and analysts warned the costs are likely to be passed on to consumers.
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