The White House updated its tariff plan on Thursday evening hours before President Donald Trump’s deadline for new trade agreements was set to kick in.
The new plan pushes the implementation of tariffs back a week from August 1 to August 7 to give Customs and Border Patrol officials time to adjust to the new levies leveled at dozens of countries. The new plan also reveals a host of tariff rates that are set to kick in.
The 10% universal tariff will remain the floor for tariff rates for trade with the United States. Only countries that have a trade deficit with the United States – meaning they import more from the United States than they export – will receive the 10% tariff rates. For countries that have a trade surplus with the United States, their goods will be tariffed at least at 15%, according to the White House plan.
Other countries that have struck new trade agreements with the United States will have various tariff rates based on the terms of the agreement.
More than a dozen countries will face a higher tariff rate than 15%, ranging from 19% to 41%.
“President Trump is using tariffs as a necessary and powerful tool to put America First after many years of unsustainable trade deficits that threaten our economy and national security,” the White House said in a statement, according to CNN.
A senior administration official briefing reporters on the details of the plan on Thursday evening said that “the president has essentially reordered global trade,” according to The New York Times. The official added that Trump is accomplishing “the type of outcomes that the WTO and the multilateral trading system have failed to accomplish at scale over the last 25 years.”
Alongside its new tariff plan for international trade, the White House announced steeper tariffs on Canada. The Trump administration said in a statement that the United States would be “increasing the tariff on Canada from 25% to 35%, with the higher tariff set to go into effect on August 1, 2025.”
“Canada has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs, and it has retaliated against the United States for the President’s actions to address this unusual and extraordinary threat to the United States,” a White House fact sheet says.
Ontario Premier Doug Ford hit back immediately at the White House announcement, urging Canada’s government to fight the tariff hike. “Canada shouldn’t settle for anything less than the right deal. Now is not the time to roll over. We need to stand our ground,” Ford said in a post on social media.