US President Donald Trump
The Donald Trump administration has unveiled a range of new tariffs to take effect in one week on most US trading partners.
Nearly 70 countries face Trump's import duties that were due to come into force Friday, but most were delayed at the last minute and will begin on August 7.
Trump sees the tariffs as an economic tool of power that will put US exporters in a stronger position by keeping out imports and encouraging domestic manufacturing.
According to a Presidential Executive Order issued on Thursday, Trump set rates including a 35 per cent duty on many goods from Canada, 50 per cent from Brazil, 25 per cent India, 20 per cent from Taiwan and 39 per cent from Switzerland.
The 10 per cent universal tariff stays, but about 40 countries with which the US runs are trade deficit will now face a 15 per cent rate including Guyana, Trinidad and Tobago, Venezuela and the European Union.
Some countries had reached tariff reducing deals while others had no opportunity to negotiate.
Trump included an exception for some goods shipped within the coming week.
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