As Trump’s Tariffs Take Effect, These 7 Trading Partners Managed To Seal Deals Before August Deadline

President Donald Trump’s extended tariff expires just past midnight on Friday, and a handful of countries successfully negotiated deals with Washington in the run-up to the deadline.

In an executive order signed on Thursday, Trump announced the new rates applicable to its trading partners, which would take effect on Aug. 7, with levies ranging from 10% to 41%. 

The president stated that some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the U.S., thereby signaling their sincere intention to address trade barriers permanently. 

Others engaged in negotiations, but the terms they offered do not sufficiently address imbalances in trading relationships, he said, adding that still others failed to come to the negotiation table or take adequate steps to align with the U.S. on economic and national security matters.

Trump posted on the Truth Social platform that he has struck a deal with Pakistan to develop oil reserves, but provided no further details. The list released by the White House has put Pakistan’s levy at 19%, down from the 29% rate announced in April.

The major trading partners of the U.S., which are yet to finalize deals, include:

• Canada, which has been slapped with a 35% rate that takes effect on Friday, up from the initial 25% rate. The Trump administration reasoned that its North American neighbor did not act adequately regarding the public health crisis caused by fentanyl and illicit drugs flowing into the U.S.
• Mexico has received a 90-day extension to negotiate a deal, with the existing rates applicable till then.
• China, which has a preliminary deal in place and has until Aug. 12 to finalize it, failed to secure an extension after the talks between trade representatives of both nations in Stockholm earlier this week
• India - 25%, and penalty on oil imports from Russia (although down from the 26% April rate)
• Taiwan - 20%
• New Zealand - 15% rate, up from the 10% announced in April
• Laos - 40%
• Myanmar - 40%

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