Trump Launches New Trade Strategy, Setting 10% Tariff Floor

Trump activates tariffs. The new 10% minimum levies imposed by the U.S. on global imports went into effect today, according to the executive order signed by U.S. President Donald Trump and released last week by the White House.

Trump announced last August 1 the imposition of new tariffs on dozens of trading partners, including a global minimum of 10% and levies starting at 15% for those countries that have trade surpluses with the United States, such as the European Union.

The text released by the White House includes, in particular, a list of almost 70 countries to which specific tariffs ranging from a minimum of 10% to 41% will be applied, as in the case of Syria. States not on the list will have a predetermined levy of 10%.

Trump threatens to impose 35% tariffs on the European Union if it fails to comply with its agreement

Trump reached an agreement with European Commission President Ursula von der Leyen last July to resolve their trade dispute over increased tariffs, with levies of 15% on European products. It also committed the European bloc to additional investments such as the acquisition of energy and armaments.

However, the US president warned the European Union on August 6 that he will impose a 35% tariff on imports from the EU-27, instead of the 15% agreed at the end of July, if the Europeans fail to comply with the commitment to invest 600 billion dollars in the United States.

In the case of India, Donald Trump also announced last month levies of 25% on products from the country, in addition to a fine, the details of which have not yet been specified. Moreover, this particular imposition is in addition to the 25% tariff recently announced for buying “directly or indirectly” Russian oil, which puts the levy on India at up to 50%.