Who stands in the crosshairs of Trump’s tariffs?

Who stands in the crosshairs of Trump’s tariffs?

A breakdown of the US president's trade restrictions as Washington's dispute with Beijing intensifies.

US tariffs
China faced the brunt of Donald Trump’s tariffs, with rates soaring to 125%, while Beijing retaliated with an 84% levy on US goods. (AP pic)
WASHINGTON:
With sweeping tariffs targeting key US trading partners, President Donald Trump sent the world economy into a tailspin Wednesday before backing down hours later – with a 90-day reprieve for all but China.

Here is a rundown of what tariffs Trump has implemented in his second presidency, as a trade fight between Washington and Beijing again heats up.

China focus

China faces the harshest of Trump’s tariffs, with a staggering rate of 125%.

While Trump’s earlier actions brought this year’s new US tariffs on Chinese goods to 104% Wednesday, he said the same day that he would raise the level further.

The figure included a 20% levy over China’s alleged role in the fentanyl supply chain, a 34% tariff over trade practices Washington deemed unfair and a 50% duty after Beijing unveiled retaliation plans.

Beijing, in turn, has matched the last of Trump’s actions with an 84% tariff on US goods due to take effect Thursday.

Trump’s fresh tariffs on Chinese imports stack atop existing ones from previous administrations.

Global tariffs

While Trump reserved his heaviest blow for rival China, other US allies and partners have not entirely been spared.

On April 5, US trading partners were slapped with a 10% “baseline” tariff, which remains in effect for economies including the EU, Japan and Vietnam.

There are notable exceptions to this duty.

The US’ immediate neighbours Canada and Mexico, which were earlier targeted over illegal immigration and fentanyl, are not affected by the 10% global tariff.

Also off the hook from these are copper, pharmaceuticals, semiconductors and lumber – although these are sectors that Trump is mulling levies on.

Gold and silver, as well as energy commodities, are also excluded.

Autos, metals

There are some sectors that Trump has quickly hit with tariffs.

In March, he imposed a 25% levy on steel and aluminum imports.

And early this month, a 25% tariff on imported autos took effect, with the rate to eventually affect vehicle parts as well.

But autos imported under the US-Mexico-Canada Agreement (USMCA) can qualify for a lower rate, while compliant auto parts are also tariff-free until a process is set up to target non-US content.

Canada, Mexico

Canadian and Mexican imports were initially hard hit by 25% US tariffs – with Canadian energy products facing a lower rate.

Trump targeted both neighbours saying they did not do enough on illegal immigration and the flow of illicit drugs across borders.

But he eventually announced exemptions for goods entering his country under the USMCA, covering large swathes of products, while potash used as fertilizer got a lower rate as well.

Retaliation

Besides incoming 84% tariffs on US goods, Beijing also earlier retaliated by targeting American agricultural products like poultry, wheat and cotton.

Canada has countered Trump’s initial duties and metals tariffs with its own levies on some C$60 billion in US goods, including steel and computers.

Meanwhile on Wednesday, the EU adopted its first measures hitting back at the Trump administration, targeting over €20 billion of American goods like soybeans, motorcycles and beauty products.

The duties will start to be collected mid-April, and came in pushback against Trump’s metals tariffs.

Other threats

Trump has opened the door for 25% tariffs on goods from countries importing Venezuelan oil, a measure that could hit China and India.

He has also threatened similar “secondary tariffs” involving Russian oil.

He previously raised the possibility of tariffs on sectors like pharmaceuticals and semiconductors too, and has ordered investigations into copper and lumber imports.

Washington also has an ongoing investigation into China’s practices in the maritime and shipbuilding sector, which could bring about new punitive action.

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