FOLLOWING the US’ new tariffs, as posted on the White House website, here’s some key data that we have observed:
* Mexico faces a 25 per cent fentanyl tariff, 25 per cent cars tariff and 50 per cent tariff on steel, aluminium and copper – all which kick in 90 days.
* Goods from the European Union face a range of zero per cent to around 15 per cent tariffs. These rates kick in on Aug 7.
* Traditional partners and many smaller or deficit running economies remain at the 10 per cent baseline, often subject to diplomatic negotiation for reductions.
* The highest tariffs (49-50 per cent) target small economies with historical trade barriers or oversized trade surpluses to the US (e.g. Lesotho, Cambodia).
* Major Asian exporters like Vietnam, India, Taiwan, Indonesia and Malaysia face medium high tariffs (19-25 per cent).
* Some countries (e.g. Israel, Iceland) negotiated lower-than-initial rates around 15-17 per cent.
We’ve also summarised it:
10 per cent – Brazil, Falkland Islands, United Kingdom and all other countries not listed in the executive order (including Singapore)
15 per cent – Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Côte d`Ivoire, Democratic Republic of the Congo, Ecuador, Equatorial Guinea, Fiji, Ghana, Guyana, Iceland, Israel, Japan, Jordan, Lesotho, Liechtenstein, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nauru, New Zealand, Nigeria, North Macedonia, Norway, Papua New Guinea, South Korea, Trinidad and Tobago, Turkey, Uganda, Vanuatu, Venezuela, Zambia, Zimbabwe
18 per cent – Nicaragua
19 per cent – Cambodia, Indonesia, Malaysia, Pakistan, the Philippines
20 per cent – Bangladesh, Sri Lanka, Thailand, Taiwan, Vietnam
25 per cent – Brunei, India, Kazakhstan, Moldova, Tunisia
30 per cent – Algeria, Bosnia and Herzegovina, Libya, South Africa
35 per cent – Iraq, Serbia, Canada
39 per cent – Switzerland
40 per cent – Laos, Myanmar
41 per cent – Syria
© New Straits Times Press (M) Bhd
