Trump Signs Executive Order to Impose Tariffs

U.S. President Donald Trump has signed an executive order imposing tariffs on 69 partner countries, with rates ranging from 10% to 41%, according to White House documents.

“This decisive action reflects the President's ongoing efforts to protect the United States from external threats to national security and the U.S. economy through fair, balanced, and mutually beneficial trade relations,” the statement read.

The new tariffs will take effect on August 7, allowing the affected countries time to negotiate trade agreements and avoid higher import rates. The list includes Syria, which will face the highest tariffs of 41%, Myanmar and Laos, which will be subjected to a 40% tax, and Iraq and Serbia, with tariffs set at 35%. Switzerland will see a 39% tariff applied to its goods.