Donald Trump signs order imposing new tariffs on a number of trading partners
The move is the next step in his trade agenda that will test the global economy and sturdiness of American alliances built up over decades.
The order was issued shortly after 7pm on Thursday. It came after a flurry of tariff-related activity in the last several days, as the White House announced agreements with various nations and blocs ahead of the president's self-imposed Friday deadline.
The tariffs are being implemented at a later date in order for the rates schedule to be harmonised, according to a senior administration official who spoke to reporters on a call on the condition of anonymity.
After initially threatening the African nation of Lesotho with a 50% tariff, the country's goods will now be taxed at 15%. Taiwan will have tariffs set at 20%, Pakistan at 19% and Israel, Iceland, Norway, Fiji, Ghana, Guyana and Ecuador among the countries with imported goods taxed at 15%. Switzerland would be tariffed at 39%.
My statement on Canada-U.S. trade: pic.twitter.com/0PSG9kKtiO — Mark Carney (@MarkJCarney) August 1, 2025
Mr Trump had announced a 50% tariff on goods from Brazil, but the order was only 10% as the other 40% were part of a separate measure approved on Wednesday.
The order capped off a hectic Thursday as nations sought to continue negotiating with Mr Trump.
It set the rates for 68 countries and the 27-member European Union, with a baseline 10% rate to be charged on countries not listed in the order.
The senior administration official said the rates were based on trade imbalance with the US and regional economic profiles.
On Thursday morning, Mr Trump engaged in a phone conversation with Mexican president Claudia Sheinbaum on trade. As a result of the conversation, the US president said he would enter into a 90-day negotiating period with Mexico, one of the nation's largest trading partners.
The current 25% tariff rates are staying in place, down from the 30% he had threatened earlier.
Mexican president Claudia Sheinbaum (Marco Ugarte/AP)
'We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,' Ms Sheinbaum wrote on X after a call with Mr Trump that he referred to as 'very successful' in terms of the leaders getting to know each other better.
The unknowns created a sense of drama that has defined Mr Trump's rollout of tariffs over several months. However, the one consistency is his desire to levy the import taxes that most economists say will ultimately be borne to some degree by US consumers and businesses.
'We have made a few deals today that are excellent deals for the country,' Mr Trump told reporters on Thursday afternoon, without detailing the terms of those agreements or the nations involved.
The senior administration official declined to reveal the nations that have new deals during the call with reporters.
Mr Trump said that Canadian prime minister Mark Carney had called ahead of 35% tariffs being imposed on many of his nation's goods, but 'we haven't spoken to Canada today'.
Mr Trump separately on Thursday amended a previous order to raise the fentanyl-related tariff on Canada from 25% to 35%.
Mr Trump had imposed the Friday deadline after his previous 'Liberation Day' tariffs in April resulted in a stock market panic.
His unusually high tariff rates, unveiled in April, led to recession fears — prompting Mr Trump to impose a 90-day negotiating period.
When he was unable to create enough trade deals with other countries, he extended the timeline and sent out letters to world leaders that simply listed rates, prompting a slew of hasty deals.
Mr Trump reached a deal with South Korea on Wednesday, and earlier with the European Union, Japan, Indonesia and the Philippines.
His commerce secretary, Howard Lutnick, said on Fox News Channel's Hannity that there were agreements with Cambodia and Thailand after they had agreed to a ceasefire to their border conflict.
Going into Thursday, wealthy Switzerland and Norway were still uncertain about their tariff rates. EU officials were waiting to complete a crucial document outlining how the framework to tax imported cars and other goods from the 27-member state bloc would operate.
Mr Trump had announced a deal on Sunday while he was in Scotland.
Mr Trump said as part of the agreement with Mexico that goods imported into the US would continue to face a 25% tariff that he has ostensibly linked to fentanyl trafficking.
He said cars would face a 25% tariff, while copper, aluminium and steel would be taxed at 50% during the negotiating period.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Examiner
19 minutes ago
- Irish Examiner
Anger as far-right Israeli minister prays at flashpoint holy site in Jerusalem
A far-right Israeli minister has prayed at Jerusalem's most sensitive holy site, triggering regional condemnation and fears that the move could further escalate tensions. With Israel already facing global criticism over famine-like conditions in the besieged Gaza Strip, the visit by Itamar Ben-Gvir to the hillside compound threatened to further set back efforts by international mediators to halt Israel's nearly two-year military offensive in the territory. The area, which Jews call the Temple Mount, is the holiest site in Judaism and was home to the ancient biblical temples. Muslims call the site the Noble Sanctuary, and today it is home to the Al Aqsa Mosque, the third-holiest site in Islam. Itamar Ben Gvir, left (Maya Alleruzzo/AP) Visits are considered a provocation across the Muslim world and openly praying violates a longstanding status quo at the site. Under the status quo, Jews have been allowed to tour the site but are barred from praying, with Israeli police and troops providing security. Israeli Prime Minister Benjamin Netanyahu's office said after Mr Ben-Gvir's visit that Israel would not change the norms governing the holy site. Mr Ben-Gvir made the stop after Hamas released videos showing two emaciated Israeli hostages. The videos caused in uproar in Israel and raised pressure on the government to reach a deal to bring home from Gaza the remaining hostages who were captured on October 7 2023, in the attack that triggered the war. During his visit to the hilltop compound, Mr Ben-Gvir called for Israel to annex the Gaza Strip and encourage Palestinians to leave, reviving rhetoric that has complicated negotiations to end the war. Benjamin Netanyahu (Aaron Chown/PA) He condemned the video that Hamas released on Saturday of 24-year-old hostage Evyatar David, showing him looking skeletal and hollow-eyed in a dimly lit Gaza tunnel. The minister called it an attempt to pressure Israel. Mr Ben-Gvir's previous visits to the site have been explosive and prompted threats from Palestinian militant groups. Clashes between Israeli security forces and Palestinian demonstrators in and around the site fuelled an 11-day war with Hamas in 2021. His Sunday visit was swiftly condemned as an incitement by Palestinian leaders as well as Jordan and Saudi Arabia. Sufian Qudah, spokesman for the foreign ministry in neighboring Jordan, which serves as the custodian of the Al Aqsa Mosque, condemned what he called 'provocative incursions by the extremist minister' and implored Israel to prevent escalation.
Irish Examiner
an hour ago
- Irish Examiner
John Whelan: Every penny of available Apple cash needed to back Irish AI development
China's big AI Summit, launched last week in Shanghai by Premier Li Qiang, kicked off just days after US president Donald Trump pledged that that the US will 'do whatever it takes to lead the world in artificial intelligence'. After unveiling a so-called AI Action Plan, he went on to declare that America is the country that started the AI race, and 'is going to win it'. In stark contrast, Premier Li Qiang headlined his AI Summit opening night by announcing that China will organize the launch of an international body to jointly develop the technology, with the goal of preventing it from becoming 'an exclusive game for a small number of countries and enterprises'. Fianna Fáil TD for Kildare North, Naoise Ó Cearúil, last month introduced the National Artificial Intelligence Bill 2026, which will establish a state body to oversee, enforce, and support the ethical, transparent, and innovative use of artificial intelligence in Ireland. Speaking at Leinster House, Deputy Ó Cearúil stated: 'This is the first time in our history that Ireland has a real chance to lead during a global technological revolution. While countries like the US, UK, and China are investing billions into AI, Ireland must act quickly to secure its own advantage. Not just as adopters, but as global contributors and leaders." The Bill dovetails much more with the China Summit theme 'Global solidarity in the AI era' than with Mr Trump's AI action plan to dominate and control the AI global growth. Beijing, by comparison, likes to say their approach democratises access to AI by offering the world the ability to freely build atop its tools, and it gives local developers an edge. The Chinese approach is much more likely to suit Ireland's entrepreneurs as they try to develop their own range of AI products for the market, obviously to markets outside the US. Trump's AI Action Plan begins, correctly, with the observation, 'Whoever has the largest AI ecosystem will set global AI standards and reap broad economic and military benefits.' The Plan has three core components: (1) addressing regulatory barriers, (2) building AI infrastructure, and (3) leading in AI diplomacy and security. Tracing through the US Action Plan is the core issue of deregulation, which sits well with the mantra of the Big Tech US firms Meta, Alphabet, Microsoft, and Amazon, who are currently dominating the international market for AI products. Altogether, the four companies are expected to spend more than $344bn (€296bn) for the year, with much of it going to the data centres necessary to run AI models. North American tech companies led the global AI market in 2024, capturing over 37% of the total market share. But the Asia Pacific AI market is projected to grow at the fastest growth of 20% between 2025 and 2034. The conundrum facing Ireland and its attempts to help entrepreneurs to maximise their position in the global marketplace, is the recognition that they cannot wean themselves entirely from the US but they need to focus on strategic growth areas in Europe and Asia where they can build a comparative advantage. The all-or-nothing sales pitch from Mr Trump will make it hard to find this balance and heighten concerns about our dependence on U.S. technology. And there are other issues facing Irish AI entrepreneurs, particularly costs of data to train their AI models and the associated data centres. Big Tech in owning data centres clearly have an advantage, particularly as they are funding these out of current revenue cash flow. But there are other costs, which put Irish AI companies at a disadvantage. Electricity costs are the second highest in Europe, adding high energy prices on to the required large scale computing costs. Finally, AI is trained on data, and public data resources, such as media archives and healthcare data, are incredibly valuable assets that are crucial to building a resilient, sovereign AI ecosystem. Ireland can further AI innovation by identifying and responsibly making available to AI entrepreneurs key public data resources, while preserving privacy. Every penny of the €2bn Apple money available from the EU sanctions will be needed if Ireland's entrepreneurs are to produce AI products capable of competing in international markets, with the Big Tech behemoths.
Irish Daily Mirror
3 hours ago
- Irish Daily Mirror
Conor McGregor makes major step towards UFC return
Conor McGregor has taken steps towards a UFC return by submitting his first anti-doping test of 2025. It was revealed this week that McGregor had given a sample to the UFC's anti-doping unit, his first test of 2025. As per UFC rules, a fighter needs to provide six months of clean samples before being allowed to fight in the promotion. Given McGregor's sample was given in the past week or so, it would enable him to fight as soon as next February. This would open the door for McGregor to fight on the rumoured 'White House' UFC card which Donald Trump wants to be held at 1600 Pennsylvania Ave on July 4th next year to commemorate 250 years of American independence. McGregor has made plenty of social media claims stating his desire to appear on the card and fight as Ireland's President. But while the Dubliner wants to replace Michael D Higgins as President, he would need the backing of either 20 members of the Oireachtas of four local authorities - both of which are highly unlikely. The Irishman hasn't fought in the UFC since 2021 when he twice lost to Dustin Poirier. He was due to return against Michael Chandler last year but pulled out with a toe injury. Away from MMA, McGregor has been in the news this week after losing his appeal against Nikita Hand.
