Trump Imposes New Tariffs Starting August 1
President Trump will introduce new import tariffs effective August 1. Canada will face a 35% duty, while Switzerland will see a 31% tariff.
The base tariff rate of 10% — introduced on April 2 — will remain unchanged for most countries that export goods to the U.S. This rate applies to nations with which the U.S. runs a trade surplus, according to CNN.
Additionally, a minimum base tariff of 15% will now apply to around 40 countries with which the U.S. has a small trade deficit.
