Trump's recently implemented tariffs grant leniency to certain nations, simultaneously causing a downturn in stock market shares and the US dollar value
The United States has announced new tariff rates for imports from various countries, effective from August 7, 2025. The new tariff list, which ranges from 10% to 41%, affects about 70 countries, including Canada, Japan, Switzerland, New Zealand, Taiwan, Cambodia, Thailand, Pakistan, and Bangladesh.
However, the exact tariff rates for some countries, such as Canada, Switzerland, New Zealand, Taiwan, Cambodia, Thailand, Pakistan, and Bangladesh, are not fully detailed in the available sources. For instance, Japan will face a 15% tariff on all products, while Cambodia's tariff rate has been set at 19%, down from the originally proposed 49%. Pakistan and Thailand will also pay a 19% duty, lower than the initially planned 29% and 36%, respectively.
Canada's tariff treatment remains separate from this list, continuing under earlier U.S. trade rules. Many of Canada's exports to the U.S. are covered by the U.S.-Mexico-Canada Agreement and face no tariff, but steel, lumber, aluminum, and autos have been subject to higher tariffs.
Some countries have expressed concern about the new tariff rates. Japanese Chief Cabinet Secretary Yoshimasa Hayashi expressed caution about the 15% tariff rate set for Japan's exports to the U.S. Meanwhile, Norwegian Prime Minister Jonas Gahr Støre objected to a 15% tariff rate on Norway's exports to the U.S. and stated that Norway should have "zero tariffs."
Australia's steel and aluminum exports have faced a steep 50% tariff since June, while Australian Trade Minister Don Farrell said the 10% overall tariff on Australia's exports to the United States was a vindication of his government's "cool and calm negotiations."
In a positive development, Bangladesh avoided a 35% import duty for its exports, with a new 20% tariff rate. Cambodia has also agreed to increase purchases of U.S. goods, including 10 passenger aircraft from Boeing. Taiwan's President Lai Ching-te is hopeful for a further reduction in the 20% tariff rate for Taiwan's exports to the U.S.
New Zealand is lobbying Trump to cut the 15% tariff he announced for their country's exports to the U.S., up from the original 10% set in April. Pakistan welcomed the trade deal that sets a 19% duty on its exports, lower than the initial plan for 29%.
The U.S. government intends to publish detailed country-specific tariff lists and updates every six months, so further clarifications may be released in official White House or U.S. Customs communications shortly. For precise tariff percentages for those other countries, consulting the official U.S. government publication of the August 7, 2025 Executive Order or the White House’s detailed Annex 1 list is recommended.
Transshipped goods to evade duties may be subject to a 40% tariff plus penalties, according to the available information. This development could have significant implications for countries looking to bypass the new tariff rates.
In conclusion, the new U.S. tariff rates present both challenges and opportunities for various exporting countries. While some countries have seen their tariff rates reduced, others have faced increased tariffs. The situation remains fluid, with further clarifications expected in the coming months.
The new tariff rates put forth by the United States affect multiple industries, such as steel, lumber, and finance, as these sectors are among the exports subject to these changed customs fees. Some countries, like Japan and Norway, have expressed reservations about the impact of these new rates on their business activities. Meanwhile, Australia's steel and aluminum industries have already been grappling with steep tariffs since June. On a more positive note, countries like Bangladesh and Cambodia have had their tariff rates reduced, potentially beneficial for their respective business sectors.
