WASHINGTON, Aug 1: Global trade partners reacted Friday to U.S. President Donald Trump’s executive order imposing new tariffs set to take effect within seven days, reigniting tensions in international trade. The order, issued Thursday night, follows a flurry of trade activity as Trump pursued last-minute agreements with various countries ahead of his self-imposed August 1 deadline. While some nations reached partial deals, many others remain uncertain, and businesses worldwide brace for potential cost increases.
Trump extended negotiations with Mexico by 90 days but moved ahead with steep tariffs on others. Switzerland was hit with a 39% tariff—up from a proposed 31%—despite ongoing talks. The Swiss government expressed regret and vowed to continue seeking a solution.
Canada saw its tariff raised from 25% to 35%, with the White House citing Ottawa’s failure to curb illicit drug trafficking. Meanwhile, Malaysia secured a reduction from 25% to 19%, calling it a “significant achievement” that preserved its policy sovereignty.
Cambodia, once facing a 49% tariff, praised a lowered 19% rate and announced it would impose zero tariffs on U.S. goods. The country also committed to purchasing Boeing aircraft and thanked Trump for brokering a ceasefire with Thailand over a border dispute—going so far as to propose a Nobel Peace Prize nomination.
Australia retained a low 10% tariff, which its trade minister attributed to calm, strategic negotiations and the country’s long-standing free trade relationship with the U.S. Japan welcomed a tariff reduction from 25% to 15%, viewing it as easing economic uncertainty, though it pledged to continue monitoring its impacts.
New Zealand, by contrast, expressed dissatisfaction over a new 15% tariff, increased from the previously proposed 10%, and plans to lobby Washington for a rollback. Taiwan, currently subject to 20% tariffs—down from 32%—hopes further negotiations will lead to a lower rate, linking the talks to broader U.S.-Taiwan strategic cooperation.
Thailand joined Cambodia in celebrating a tariff reduction to 19%, attributing success to the resolution of border hostilities, which Trump had made a precondition for a trade deal.
While some countries view the tariff revisions as diplomatic wins, others remain wary of Trump’s broader trade agenda, with legal challenges mounting and economic alliances under strain as the global landscape adjusts to renewed U.S. protectionism. (AP)
