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Trump Imposes New Tariffs Including Syria
In a bold move, U.S. President Donald Trump announced on Wednesday the imposition of new tariffs affecting 180 countries during an event at the White House, including Syria.
Trump explained in a speech at the White House lawn that the minimum tariff will be 10% for many countries, while the rates will be higher for others, reaching 31% for Switzerland, 24% for Japan, and 26% for India. Meanwhile, the tariffs imposed on Syria will reach 41%, 10% for Kuwait, and 39% for Iraq.
He referred to his trading partners, particularly Mexico and Canada, stating, "We support many countries and help enhance their performance, but when do we tell you that doing business should be for yourselves?"
He added that the trade deficit is no longer merely an economic issue but has become a "national emergency," according to Reuters.
Trump unveiled a chart displaying the new tariffs, which range from 10% to 49%. He noted that the tariff rates imposed by the United States were about half of what other countries impose.
These tariffs, which Trump referred to as "Liberation Day," aim to bolster American manufacturing and penalize countries for what he views as unfair trade practices. However, many economists warn that this move could lead to a recession and harm economic alliances that have been in place for decades.
Here are some of the newly announced tariff rates:
- Algeria 30%
- Oman 10%
- Uruguay 10%
- Bahamas 10%
- Lesotho 50%
- Ukraine 10%
- Bahrain 10%
- Qatar 10%
- Mauritius 40%
- Fiji 32%
- Iceland 10%
- Kenya 10%
- Liechtenstein 37%
- Guyana 38%
- Haiti 10%
- Bosnia and Herzegovina 35%
- Nigeria 14%
- Namibia 21%
- Brunei 24%
- Bolivia 10%
- Panama 10%
- Venezuela 15%
- North Macedonia 33%
- Ethiopia 10%
