Trump raises tariffs on slew of U.S. trading partners

President Trump imposed tariffs ranging between 15% and 41% on more than 67 countries Thursday evening, raising tariffs to their highest levels in more than a century.

The new levies won’t go into effect until Aug. 7, one week after Mr. Trump’s initial deadline of Aug. 1, giving countries more time to try to negotiate deals to lower the tariffs.

An executive order signed late Thursday said the Trump administration will maintain its so-called baseline tariff of 10% on countries with which the U.S. enjoys a trade surplus.

It also imposes the 15% tariff that was negotiated as part of trade deals with the European Union, Japan, and South Korea as well as the tentative 19% to 20% tariff that are part of yet-to-be finalized deals with the Philippines, Vietnam and Indonesia.

Other countries, mainly smaller economics, face far higher rates. Among the highest are Syria, which faces 41% tariffs, Myanmar at 40%, Laos at 40% and Iraq, which will be hit with a 35% tariff.

Bigger trading partners like Switzerland and Taiwan also face massive tariffs of, respectively, 39% to 20%.

The order indicates that Mr. Trump is taking aim at countries that he thinks didn’t offer a good enough deal during negotiations since the White House first rolled out its plan for “reciprocal” tariffs in April.

“Some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States, thus signaling their sincere intentions to permanently remedy the trade barriers,” the order states.

“Other trading partners, despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address the imbalances in our trading relationship or have failed to align sufficiently with the United States on economic or national-security matters,” the order continues.

“There are also some trading partners that have failed to engage in negotiations with the United States or take adequate steps to align sufficiently with the United States on economic and national security matters,” it also states.

The order comes after a hectic trade week.

Mr. Trump reached a deal with South Korea on Wednesday and earlier in the week struck deals with Japan, Indonesia and the Philippines.