US President Donald Trump has unveiled a new round of steep import tariffs, affecting dozens of countries \u2014 including a 19% duty on Pakistani goods \u2014 just days before a key trade deal deadline. Part of a broader push to overhaul global trade practices, the new measures place Pakistan among 69 nations facing US tariffs between 10% and 41%, effective next week. Trump stated the tariffs aim to address unfair trade imbalances and safeguard America\u2019s economic and national security interests. Trump released an executive order listing higher import duty rates of 10% to 41% starting in seven days for 69 trading partners as the 12:01 am EDT (0401 GMT) deadline approached. Some of them had reached tariff-reducing deals, and some had no opportunity to negotiate with his administration. The order said that goods from all other countries not listed in an annex would be subject to a 10% US tariff rate. Trump’s order stated that some trading partners, \u201cdespite having engaged in negotiations, have offered terms that, in my judgement, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters.\u201d Trump issued a separate order for Canada that raises the rate on Canadian goods subject to fentanyl-related tariffs to 35% from 25% previously, saying Canada had \u201cfailed to cooperate\u201d in curbing fentanyl flows into the US. The higher tariffs on Canadian goods contrasted sharply with Trump\u2019s decision to grant Mexico a 90-day reprieve from higher tariffs of 30% on many goods to provide more time to negotiate a broader trade pact. A US official told reporters that more trade deals were yet to be announced as Trump\u2019s higher \u201creciprocal\u201d tariff rates were set to take effect. \u201cWe have some deals,\u201d the official said. \u201cAnd I don\u2019t want to get ahead of the President of the United States in announcing those deals.\u201d Regarding the steep tariffs on goods from Canada, the second largest US trading partner after Mexico, the official said that Canadian officials \u201chaven\u2019t shown the same level of constructiveness that we\u2019ve seen from the Mexican side.\u201d The extension for Mexico avoids a 30% tariff on most Mexican non-automotive and non-metal goods compliant with the US-Mexico-Canada Agreement on trade and came after a Thursday morning call between Trump and Mexican President Claudia Sheinbaum. \u201cWe avoided the tariff increase announced for tomorrow,\u201d Sheinbaum wrote in an X social media post, adding that the Trump call was \u201cvery good.\u201d Approximately 85% of US imports from Mexico comply with the rules of origin outlined in the USMCA, shielding them from 25% tariffs related to fentanyl, according to Mexico\u2019s economy ministry. Trump said the US would continue to levy a 50% tariff on Mexican steel, aluminium and copper, and a 25% tariff on Mexican autos and on non-USMCA-compliant goods subject to tariffs related to the US fentanyl crisis. \u201cAdditionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many,\u201d Trump said in a Truth Social post without providing details. Korea deal, India discord South Korea agreed on Wednesday to accept a 15% tariff on its exports to the US, including autos, down from a threatened 25%, as part of a deal that includes a pledge to invest $350 billion in US projects to be chosen by Trump. But goods from India appeared to be headed for a 25% tariff after talks bogged down over access to India\u2019s agriculture sector, drawing a higher-rate threat from Trump that also included an unspecified penalty for India\u2019s purchases of Russian oil. Although negotiations with India were continuing, New Delhi vowed to protect the country\u2019s labour-intensive farm sector, triggering outrage from the opposition party and a slump in the rupee. Trump\u2019s rollout of higher import taxes on Friday comes amid more evidence they have begun driving up consumer goods prices. Commerce Department data released Thursday showed prices for home furnishings and durable household equipment jumped 1.3% in June, the biggest gain since March 2022, after increasing 0.6% in May. Recreational goods and vehicles prices rose 0.9%, the most since February 2024, after being unchanged in May. Prices for clothing and footwear rose 0.4%.<\/p>\n","protected":false},"excerpt":{"rendered":"
US President Donald Trump has unveiled a new round of steep import tariffs, affecting dozens of countries \u2014 including a 19% duty on Pakistani goods…<\/p>\n","protected":false},"author":1,"featured_media":26207,"comment_status":"registered_only","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[],"class_list":["post-26206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"aioseo_notices":[],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/26206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26206"}],"version-history":[{"count":0,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/26206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/media\/26207"}],"wp:attachment":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}