Among the targets are the European Union, now facing a 20-percent duty on most products, and China, which will see an 84-percent levy that, combined with earlier measures, raises Beijing’s overall rate to 104 percent.
The new duties follow last weekend's 10-percent baseline tariff, which affected nearly all imports from most countries.
Under President Donald Trump's plan, 57 states deemed to have "significant deficits" with the United States now face higher rates of up to 25 percent, with the EU at 20 percent and China an added 50 percent—on top of 34 percent previously—to total 104 percent.
Low-value e-commerce shipments from China will be charged 90 percent.
Dubbed "reciprocal" by Trump, the tariffs aim to level trade barriers and reduce the US trade deficit.
However, critics note that the measures do not precisely reflect other countries' import taxes; instead, they tie tariff rates to each nation's trade surplus with America, leaving some high-tariff states, such as Brazil, with lower new rates, while low-tariff partners like the EU are hit harder.
Many Asian nations—both US allies and low-cost manufacturers—are targeted, such as Japan (24 percent), South Korea (25 percent), Taiwan (32 percent), India (26 percent), Vietnam (46 percent), and Cambodia (49 percent).
Negotiations amid uncertainty
The White House said on Monday it aims to hold bilateral talks with around 70 countries seeking relief. Trump indicated on Tuesday that he is "not necessarily" interested in signing deals and mocked governments desperate to lift the duties.
Meanwhile, Washington rejected a proposal from Vietnam and the EU to drop all import taxes to zero on industrial goods, including autos.
With the new tariffs, the average US import duty has soared from around 2.2 percent to more than 22 percent, the highest in over a century.
Stocks have plunged over the past four trading days, with the Dow Jones down over 10 percent amid confusion and contradictory signals from the Trump administration.
Economists at JP Morgan warn the United States could face a recession if all these tariffs persist, though many analysts still expect the levies to be negotiated down as countries strike separate deals with Washington.
(jh/gs)
Source: PAP, Reuters