The U.S. trade representative announced a wave of tariffs on dozens of economies Thursday to replace President Donald Trump’s temporary 10% tariff.
Axar.az reports, citing NBC news, sixty trading partners, including all of America’s most important ones, will face tariffs of 10% to 12.5%, according to a fact sheet. The new duties took effect at 12:01 a.m. ET Friday.
Some of the trading partners facing a 10% tariff include Canada, Mexico, India and the United Kingdom.
The U.K. tariff closely mirrors a deal that Trump and then-Prime Minister Keir Starmer reached last year to lower tariffs on U.K. imports to the U.S. to 10%.
Taiwan and the European Union, which is the largest single U.S. trading partner, will face up to a 12.5% tariff rate. The new rate announced Thursday appears to lower the 15% cap Trump and European Commission President Ursula von der Leyen agreed upon last year.
The U.S. Trade Representative’s Office said it had carried out monthslong investigations into the trading practices of other economies to impose the tariffs. The wave of levies will be enacted under Section 301 of the Trade Act of 1974, a different statute from how most tariffs have previously been authorized.