Trump Imposes High Tariffs on Goods from Several Countries

President Trump has set tariffs that include a 35% duty on many products from Canada, 50% for Brazil, 25% for India, 20% for Taiwan, and 39% for Switzerland, according to a presidential decree. The order outlines increased import duty rates ranging from 10% to 41% for 69 trading partners, effective in seven days at 00:01 EDT (04:01 GMT). Some of these countries had previously negotiated tariff reductions, while others did not have the opportunity to engage with his administration. Trump has included an exception for certain goods shipped in the upcoming week. Products from all other non-listed countries will be subject to a 10% U.S. import tax. Trump had previously indicated that the rate could be higher. The administration has also hinted at additional trade agreements in the works as it seeks to address trade deficits and stimulate domestic manufacturing. With Reuters.