US President Donald Trump has signed a new executive order to impose higher import tariffs on 69 countries, aiming to protect American businesses and push for fairer global trade deals. These new tariffs, ranging from 10% to as high as 50%, will take effect in seven days. According to the order, India will face a 25% tariff, Brazil 50%, Switzerland 39%, and Syria the highest at 41%. Meanwhile, Pakistan has received some relief with its tariff reduced from 29% to 19%.

Trump’s administration stated that the decision was made because many countries had failed to offer trade terms that meet US expectations or align with American economic and national security interests. Officials added that more trade agreements are in the pipeline, and the new tariffs are meant to encourage countries to come to the negotiating table.

Canada and Mexico have mostly been spared due to existing North American trade deals. However, Canada will now face a 35% tariff on fentanyl-related goods, as the US accuses it of not doing enough to control the flow of the drug. Mexico has been granted a 90-day extension from most new tariffs to allow more time for broader trade negotiations. Still, Mexico will continue to face high tariffs on steel, aluminium, copper, and cars not compliant with the US-Mexico-Canada Agreement (USMCA).

India’s 25% tariff follows a breakdown in trade talks, particularly over access to its agricultural sector and its oil trade with Russia. On the other hand, South Korea has agreed to a 15% tariff, lower than the previously threatened 25%, as part of a broader deal including a $350 billion investment in US projects. Brazil, meanwhile, has been slapped with a 50% tariff, reportedly due to tensions over the prosecution of Trump’s ally and former Brazilian President Jair Bolsonaro, though some key sectors like aviation and energy were exempted.

China remains a major focus, with an August 12 deadline set for finalising a broader tariff agreement. Talks between the US and China are still ongoing, following earlier temporary deals in May and June. Overall, this move by the Trump administration marks a significant shift in US trade policy, applying economic pressure to achieve new agreements while protecting domestic industries.