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Latest! Trump: Tariffs of 10% to 41%! Effective on August 1! | Maritime Export Logistics
Aug 01,2025
According to CCTV news, on July 31 local time, US President Donald Trump signed an executive order raising the tariff rate on Canada from 25% to 35%. The new tariffs will take effect on August 1.
In its statement, the White House noted that the tax hike was in response to Canada's "continued inaction and retaliatory behavior." The president "deemed it necessary to respond effectively to the current emergency situation by raising tax rates," the statement said.
The tariff adjustment to Canada is part of a series of recent tariff measures by the Trump administration. The White House also re-set standards for "reciprocal tariff" rates for some countries. According to the annex to the executive order, listed countries will apply individual tax rates, while countries that are not listed will apply a uniform 10 per cent tax rate. In addition, if a country or region is found to circumvent tariffs through third-country transshipment, its goods will be subject to a 40 per cent transshipment tax.
On July 31 local time, Trump signed an executive order setting the rate of "reciprocal tariffs" imposed on a number of countries and regions. The specific tax rate ranges from 10 per cent to 41 per cent, as follows:
Syria: The highest tax rate, at 41 percent.
Myanmar, Laos: Tax rate is 40%.
Brazil, United Kingdom: The tax rate is 10%, the lowest rate.
Most countries and territories: tax rate is 15 percent, including Japan and South Korea.
Vietnam: The tax rate is 20%.
In addition, for EU countries, if the current tariff on goods is below 15%, it will be covered up to 15%; Those above 15% are not added.
The executive order also states that countries that are not listed will apply a uniform 10 percent tariff rate. This measure aims to ensure that all countries trade under the same tariff framework, while preventing tariff evasion through transit.
The Trump administration's package of tariff adjustments is aimed at addressing what it calls "unfair trade practices" and protecting U.S. economic interests. However, these measures could also trigger countermeasures from trading partners, further exacerbating global trade tensions. In the coming weeks, the global trade market will be closely watching the impact of these tariff adjustments.
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