President Trump issued a new Executive Order on Thursday evening which revises the tariff rates on dozens of countries around the world. The modified tariffs rates will begin Thursday, August 7.
Trump has also raised the tariff rate on Canadian goods from 25 to 35 percent, while the tariff rate on India will be at 25-percent.
The White House has granted a 90-day extension to Mexico to officially iron out a new trade deal. The tariff rate at Mexico remains at 25 percent.
Among countries facing the steepest tariffs include Syria, which has the highest rate at 41 percent. Exports from Laos and Myanmar to the U.S. will face a 40 percent. Switzerland and South Africa will be hit with tariffs of 39 percent and 30 percent, respectively.
Countries that are not listed in the latest Executive Order will face an additional duty of 10 percent.
Trump has already locked in trade deals with the European Union, Japan, Indonesia, the Philippines and South Korea.
The U.S. is currently holding trade talks with China, but no agreement has been finalized.
CLICK HERE to read President Trump’s Executive Order.
