💨 Abstract
President Donald Trump signed an executive order on August 1, 2025, imposing new tariffs on numerous U.S. trading partners. Effective August 7, the tariffs vary by nation, such as 15% on Lesotho and 20% on Taiwan. The rates are based on trade imbalances and regional economic factors. After negotiations, Mexico secured a 90-day period to discuss a trade agreement, maintaining existing tariff rates.
Courtesy: WTOP Staff
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