US TAX UPDATE – EFFECTIVE 8/1/2025

President Trump signs an executive order adjusting the tax structure under the International Emergency Economic Powers Act (IEEPA):

🔹 MAIN TAX RATE

• 🇨🇦 Canada: 35%

• 🇲🇲 Myanmar: 40%

• 🇨🇭 Switzerland: 39%

• 🇹🇼 Taiwan, 🇻🇳 Vietnam: 20%

• 🇹🇭 Thailand, 🇰🇭 Cambodia, 🇲🇾 Malaysia, 🇮🇩 Indonesia, 🇵🇰 Pakistan: 19%

• 🇿🇦 South Africa: 30%

• 🇮🇱 Israel, 🇹🇷 Turkey, 🇳🇿 New Zealand, 🇨🇲 Cameroon, 🇹🇩 Chad: 15%

🔹 OTHER MEASURES

• 🚫 Transshipment (tax evasion): 40%

• ⚠️ Default tax for unlisted countries: 10%

• ✅ USMCA (United States–Canada–Mexico Agreement): Duty-free

• 📄 Annex I lists countries with specific taxes and some other countries

🔹 WHITE HOUSE STATEMENT The tax aims to protect national security, ensure reciprocity, and address unfair trade practices.

🧭 Global trade reorientation is underway.