President Donald Trump announced tariffs on dozens of trading partners, including Canada, Brazil, India and Taiwan, on July 31, just ahead of his Aug. 1 trade deal deadline.
The president signed an executive order listing new tariff rates that included a 35% tariff on many goods from Canada, 50% for Brazil, 25% for India, 20% for Taiwan and 39% for Switzerland.
Trump reached an agreement with the European Union to impose 15% tariffs instead of the 30% tariffs on E.U. imports that the president had threatened, the BBC reported.
Meanwhile, the United Kingdom will face 10% tariffs as part of its agreement with the U.S.
The U.S. and China have yet to reach a trade deal. The countries have until Aug. 12 to reach a tariff agreement.
Sixty-nine trading partners are included on Trump's tariff list, and goods from countries that weren't listed face 10% tariffs. The new tariff rates will go into effect Aug. 7.
Trump invoked the 1977 International Emergency Economic Powers Act to declare an emergency over the growing U.S. trade deficit and impose his "reciprocal" tariffs.
U.S. Trade Representative Jamieson Greer said in comments aired Sunday that the new tariffs are likely to stay in place rather than be cut as part of continuing negotiations, Reuters reported.
