Trump Increases Canada Tariff to 35% Amid New US Levies

Trump Extends Mexico Tariff Deadline by 90 Days

President Donald Trump announced that Mexico will not face an increase in tariffs for another 90 days, maintaining the current rates. This decision came after Mexico's President Claudia Sheinbaum secured an extension following discussions with Trump, despite his initial stance against any deadline extensions.

In contrast, Canada saw its tariffs raised to 35% due to its recognition of Palestinian statehood. The US also signed a trade deal with the UK, imposing a 10% tariff on UK exports to the US.

Trump's trade policies have led to uncertainties in global trade, with various countries negotiating deals to avoid higher tariffs. Despite the challenges, the impact on global growth and prices is expected to be less severe than initially feared.

The US has been engaged in trade negotiations with several countries, including China and the EU, resulting in agreements on tariff rates for various goods. Trump's administration aims to reshape global trade dynamics through these negotiations.

Global Impact of Trump's Tariffs

Trump's tariff policies have affected countries worldwide, with varying rates imposed on imports from different nations. While some countries like Cambodia have agreed to buy Boeing jets as part of their trade deal, others like Brazil have seen their tariffs raised to 50%.

Countries in South Asia, such as Pakistan and India, have experienced changes in tariff rates, impacting their exports to the US. Trump's administration has also targeted Asian countries suspected of transshipping with China, aiming to address trade imbalances.

Challenges and Negotiations with Taiwan

Taiwan faced a 20% tariff rate from the US, higher than its competitors like Japan and South Korea. The negotiations between Taiwan and the US have resulted in phased achievements, with details on semiconductor exports yet to be clarified.

The US has set deadlines for countries to negotiate trade deals before implementing new tariff rates. Despite concerns and uncertainties, countries like Taiwan are working to address trade challenges and maintain economic stability amid changing tariff policies.