Tariff hikes affect Canada Brazil India Taiwan and others
President Donald Trump has announced major tariff increases on goods from 69 countries, including top U.S. trading partners. This move is part of a broader plan to reshape the global trade landscape and promote American manufacturing.
According to a new executive order, Canada now faces a 35% tariff, up from 25%. However, products under the USMCA agreement remain exempt.
Brazil was hit with a 50% tariff, though some key exports like fertilizers, orange juice, and aircraft parts are excluded. The Brazilian Confederation of Agriculture and Livestock (CNA) warned the new tariffs could reduce U.S. imports from Brazil by nearly half, costing Brazilian exporters $5.8 billion annually.
India, Taiwan, and Switzerland are also subject to new rates—25%, 20%, and 39% respectively. Other countries not listed in the executive order will face a 10% import tax.
Some nations, including Japan, China, South Korea, and the EU, have already reached agreements to avoid the new tariffs. However, American Farm Bureau Federation economist Faith Parum said more details are needed to understand the impact on U.S. agriculture. “Historically, trade deals have taken a long time because they’re very detail oriented,” she said.
Mexico secured a 90-day extension on trade talks, avoiding a 30% tariff for now. Still, steel, aluminum, and non-compliant auto exports will face 25% to 50% tariffs due to fentanyl-related policies.
These tariff changes could affect farmers, importers, and consumers as global trade balances shift.
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