HCMC – U.S. President Donald Trump has signed an executive order adjusting “reciprocal” tariffs on a number of countries and territories, with new duties ranging from 10% to 41%. Vietnam is subject to a 20% tariff.
According to the Vietnam News Agency, Syria faces the highest tariff at 41%, followed by Laos and Myanmar at 40%, and Switzerland at 39%.
Canada, Iraq, and Serbia will be subject to a 35% rate. South Africa, Algeria, Bosnia and Herzegovina, and Libya will face a 30% tariff.
A 25% tariff will apply to Kazakhstan, Moldova, India, Brunei, and Tunisia, while Bangladesh, Sri Lanka, Vietnam, and Taiwan will each face a 20% tariff.
A 19% rate will be imposed on seven countries, including Cambodia, Indonesia, Malaysia, Pakistan, the Philippines, Cambodia, and Thailand, while Nicaragua will face an 18% tariff.
Thirty-nine countries will be subject to a 15% tariff, including Afghanistan, Angola, South Korea, Iceland, Israel, Jordan, New Zealand, Nigeria, Norway, Turkey, Venezuela, Zambia, Japan, and others.
The lowest tariff rate of 10% will be applied to four countries: Australia, Brazil, the United Kingdom, and the Falkland Islands.
Countries not listed in the annex will be subject to a 10% tariff.
President Trump explained that some trading partners offered terms that were inadequate to address trade imbalances or failed to show alignment with the United States on economic and national security matters.
In addition to reciprocal tariffs, some countries will also face additional levies. Notably, Brazil will be subject to a combined tariff rate of up to 50%.
