In July 2024, the President of the United States sent tariff notifications to 24 countries and territories through 4 different rounds.
Tariff rates range from 20% to 50%, affecting many major trading partners such as Japan, Brazil, Canada, Mexico, and the European Union, reflecting a notable shift in trade strategy.
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24 countries and territories received tariff notices from the United States in 4 rounds.
The applicable tariff rates range from 20% to 50%, depending on the country.
Major partners such as Japan, Brazil, Canada, Mexico, and the EU are all affected.
What is the overview of the tariff notification rounds sent by the United States in July 2024?
The information released by Jinshi shows that the United States sent 4 rounds of tariff notices from July 7 to 12, affecting 24 countries/territories.
This indicates that the U.S. tariff strategy is expanding to adjust trade balance and protect domestic production.
Which countries were subjected to tariffs in the first round and what were the rates?
The first round included 14 countries, with the United States imposing tariffs from 25% to 40%, notably Japan and South Korea both facing a 25% rate.
This round of tariffs aims to promote domestic manufacturing and adjust trade imbalances, in line with the current Administration's protectionist policy.
Jinshi, Economic Analyst, July 2024
For example, Laos and Myanmar face the highest tariff at 40%, while Thailand and Cambodia are at 36%, indicating that tariff rates vary based on product type and trade relations.
Which countries were included in the second round of tariffs and what are the rates?
On July 9, the United States sent tariff notices to 8 countries with rates from 20% to 50%, with Brazil facing the highest at 50%.
The remaining countries such as the Philippines (20%), Brunei (25%), and Iraq, Algeria all face a 30% tariff, reflecting a flexible adjustment strategy based on region and industry.
How will Canada and other affected countries fare in the following rounds?
The third round (10/7) only affected Canada with a 35% tariff, while the final round (12/7) imposed tariffs on Mexico and the European Union at 30%.
This shows that the United States is focusing on tightening trade relations with major partners, significantly affecting global supply chains.
Imposing tariffs on major markets such as the EU and Mexico is an important step by the United States to protect economic interests amid global trade tensions.
John Maxwell, International Trade Expert, July 2024
Summary table of applicable tariffs by round and country
Round Country/Territory Tariff Rate (%) Round 1 (7/7) Japan, South Korea 25 Round 1 (7/7) South Africa 30 Round 1 (7/7) Laos, Myanmar 40 Round 1 (7/7) Cambodia, Thailand 36 Round 2 (9/7) Brazil 50 Round 2 (9/7) Philippines 20 Round 2 (9/7) Brunei, Moldova 25 Round 3 (10/7) Canada 35 Round 4 (12/7) Mexico, European Union 30
Frequently Asked Questions
How many countries did the United States impose tariffs on in July 2024?
The United States sent tariff notices to a total of 24 countries and territories through 4 different rounds in July 2024.
What is the highest tariff rate that the United States applied in these rounds?
The highest recorded tariff rate is 50% for Brazil, reflecting a strong protectionist strategy.
Which country is affected by the third round of tariffs?
The third round only sent tariff notices to Canada with a 35% tariff.
How much tariff is the European Union subjected to in this round of tariffs?
The European Union imposed a 30% tariff in the fourth round of notifications on July 12, 2024.
Why did the United States impose tariffs on so many countries in July 2024?
This strategy aims to protect domestic manufacturing, balance trade, and respond to tensions in international trade.
Source: https://tintucbitcoin.com/trump-ap-thue-24-doi-tac-thuong-mai/
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