The 35% tariff rate imposed on Canada has now kicked in - and the 1 August deadline to strike a deal with Washington has passed.

For the remaining more than 70 countries however, the new tariff rates are not due to come into effect now - but on the 7 August, under Trump's latest executive order.

Goods that are loaded onto ships by 7 August and those that are already in transit will also not be affected by the rates if they reach the US before 5 October.

We've summed up Trump's new tariffs, as set out in his executive order, external on the White House website. The order lists tariffs on goods from more than 90 countries:

• 10% - Falkland Islands, United Kingdom, and all other countries not listed in the executive order
• 15% - Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Côte d`Ivoire, Democratic Republic of the Congo, Ecuador, Equatorial Guinea, Fiji, Ghana, Guyana, Iceland, Israel, Japan, Jordan, Lesotho, Liechtenstein, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nauru, New Zealand, Nigeria, North Macedonia, Norway, Papua New Guinea, South Korea, Trinidad and Tobago, Turkey, Uganda, Vanuatu, Venezuela, Zambia, Zimbabwe
• 18% - Nicaragua
• 19% - Cambodia, Indonesia, Malaysia, Pakistan, Philippines
• 20% - Bangladesh, Sri Lanka, Thailand, Taiwan, Vietnam
• 25% - Brunei, India, Kazakhstan, Moldova, Tunisia
• 30% - Algeria, Bosnia and Herzegovina, Libya, South Africa

• 35% - Iraq, Serbia
• 39% - Switzerland
• 40% - Laos, Myanmar (Burma)
• 41% - Syria

There are some notable exceptions:

• China is still in the midst of negotiations
• Canada faces a 35% tariff that kicks in less than an hour's time, on 1 August
• Mexico faces a 25% fentanyl tariff, 25% cars tariff, and 50% tariff on steel, aluminium, and copper - all of which come into effect in 90 days

• Goods from the European Union face a range of 0% to around 15% tariffs. These rates kick in on 7 August

• Brazil was listed in the executive order as having a 10% tariff - but this is separate to the 40% tariff announced yesterday, meaning it faces a rate of 50% on most goods

Image source, Universal Images Group via Getty Images

As we mentioned earlier, Canada's new higher tariff comes as a result of its inaction in the "illicit drug crisis" and its "retaliation against the United States" for its actions to address the threat, the White House says.

The country "has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs" and Trump has increased the country's tariff to "effectively address the existing emergency", it added.

Canadian Prime Minister Mark Carney said in July that it had made "vital progress to stop the scourge of fentanyl in North America."

The White House statement notes that goods captured by the United States-Mexico-Canada Agreement (USMCA) are exempt from the 35% rate.

New Zealand was surprised with a 15% tariff on Thursday, up from the original 10% that Trump threatened the country with in April.

Trade Minister Todd McClay says New Zealand has been unfairly penalised over a small trade deficit with the US, which published its revised list of duties on Thursday, according to local media, external.

"It appears it has been done based upon countries that have a trade deficit with the US, who sell them more than they buy," says McClay.

"In New Zealand's case, that's about half a billion US dollars and in a scheme the size of the US economy it's really not significant or meaningful."

McClay says he's asked for a call with US ambassador and trade negotiator Jamieson Greer, and expects to speak with him over the weekend to "start making a case" for a lower levy.

Jean Mackenzie
Seoul correspondent

South Korea has secured a 15% tariff rate on most goods, including cars – its top export to the US.

More than half of South Korean cars sold abroad go to the US, and the industry was hit hard when President Trump first introduced 25% tariffs on the industry back in April. Hyundai’s profits dropped 16% last quarter compared to the previous year.

The reduced tariff rate did not stop Hyundai and Kia’s share prices falling after the announcement, however. US consumers will likely still have to pay more for their cars than they did last year, given South Korea and the US used to enjoy free trade agreement.

Still, there is enormous relief here. The outcome could have been far worse.

Critically, the 15% rate puts South Korea on an equal footing with Japan and the EU, which also secured 15% tariffs on automobiles. That means Hyundai and Kia can at least compete with the likes of Toyota and BMW, even though they used to have the advantage.

Jonathan Head
BBC South East Asia Correspondent

Image source, Getty Images

When Trump made his dramatic tariff announcement on 2 April, nowhere was the shock greater than in South East Asia, a region whose entire world view and economic model is built on exports.

The levies went as high as 49% on some countries, hitting a range of industries from electronics exporters in Thailand and Vietnam to chip makers in Malaysia and clothing factories in Cambodia.

The negotiations went down to the wire, finalised just two days before the deadline Trump had set - 1 August.

Thailand, which was facing a 36% levy, now has a deal, like most of its neighbours, to reduce the tariffs to 19%.

The negotiations went down to the wire, finalised just two days before the deadline Trump had set - 1 August. It has been a fraught process getting there, and there is still very little detail about exactly what has been agreed.

Read more here

Australia appears to have dodged a tariff hike.

Its trade minister Don Farrell says no other country has received a lower tariff than what the White House had promised it.

He didn't give the final figure but seems to suggest that Australia will come away with a 10% import duty, which is unchanged from US President Donald Trump's initial rate in April.

A spokesperson for Farrell says Canberra officials will continue to advocate for the removal of all tariffs in line with their free trade agreement.

Neighbouring New Zealand though, hasn't fared as well. Its tariff rate has been bumped up from the original 10% announced earlier to 15%.

Suranjana Tewari
Asia Business Correspondent

As governments around the world grapple with Trump's new tariffs regime there is an elephant in the room: China.

There are signs Beijing wants a deal. It sent officials to three different sets of talks – first in Geneva in May, London in June, and earlier this week in Stockholm.

The two sides have now agreed to seek a 90-day extension of their truce, which is due to expire on 12 August.

Beijing will want a continued suspension on US export controls on technology like semiconductors in return for a steady supply of rare earth minerals.

The US will likely be pressing for efforts to hobble fentanyl production. Trump will also want greater access to Chinese markets, Chinese purchases of US goods and agriculture and more Chinese investment in the US.

"We're moving along with China. We're doing fine with China," Trump told reporters at the White House on Wednesday. "I think we're going to have a very fair deal with China."

It’s thought Beijing and Washington are working towards a summit between the two countries' leaders later this year. Trump has said he thinks he will meet Chinese President Xi Jinping before the end of the year.

Image source, Getty Images

Here's a bit more from US President Trump, who as we mentioned earlier has been speaking to NBC News.

He told the news outlet that his tariff roll out is going "very well, very smooth".

Addressing the countries that have not yet negotiated deals with the US, he said that it's now "too late" to strike a deal before new tariff rates go into place.

"It doesn’t mean that somebody doesn’t come along in four weeks and say we can make some kind of a deal," he added.

Asked about price spikes for US consumers, he answered: "The only price that’s spiked is the hundreds of billions of dollars coming in.”

He was also asked about Brazilian President Luiz Inácio Lula de Silva, who has vowed to oppose Trump's tariff agenda.

"That’s OK. But he doesn’t have to do business with the United States, which is fine with me,” said Trump.

In an interview with NBC News, Trump said that he's open to continued trade talks with Canada.

He added that he may still speak over the phone with Canadian PM Mark Carney tonight.

But he added that its too late for Canada to negotiate a deal before the new tariff of 35% comes into effect.

As a reminder, the White House has said Canada's higher tariffs come because it "failed to cooperate in curbing the ongoing flood of fentanyl" - a claim the Canadian Bureau of Commerce has denied.

Image source, Getty Images

Donald Trump has attributed the 35% tariff he imposed on Canada in part to its "inaction" on the flow of illegal drugs across it's border with the US.

But the Canadian Bureau of Commerce has come out swinging against these claims.

"The White House fact sheet should be called a fact-less sheet when it comes to basing trade decisions about Canada on the fentanyl emergency," its chief Candace Laing said.

She backed the Carney government's prioritisation of a "strong, future-focused deal over a rushed one" adding, "A little more time now can deliver lasting benefits for an integrated North American economy — and that’s well worth the wait."

Major stock markets in Asia are trading lower after Trump's latest tariffs salvo.

The biggest drop is on South Korea's Kospi index. It's down by more than 3% as investors digest the latest announcement.

Elsewhere in the region Japan's Nikkei 225 is down by about 0.4% and the ASX 200 in Australia is 0.7% lower.

Hong Kong's Hang Seng and the Shanghai Composite in mainland China are bucking the trend - up around 0.2%.

The North American neighbours are among each other's largest trading partners, but have been in an uncomfortable standoff after Trump returned to the White House earlier this year and unleashed a sweeping programme of tariffs.

About three-quarters of the goods Canada exports are sold to the US. In addition to metals and lumber, Canada exports large quantities of oil, cars and car parts, other machinery, food and pharmaceuticals.

According to the Office of the US Trade Representative, in 2024 the US exported nearly $350bn (£258bn) in goods to Canada, and imported more than $412bn from its northern neighbour.

But despite the billions of dollars in trade, Canadian officials have signaled that they would rather have no deal than a "bad deal".

Canadian Prime Minister Mark Carney signalled earlier this month that Canada "will not accept a bad deal" and rush into an agreement.

After a two-day visit to Washington, intergovernmental affairs minister Dominic LeBlanc told reporters last week that negotiators "have a lot of work" in front of them.

He described the ongoing talks as "productive" and "cordial", but reiterated that Canada will take "the time necessary to get the best deal".

Image source, BBC News

The tiny African nation of Lesotho is getting a 15% tariff, a steep drop from the 50% that Trump announced in April.

The White House had justified the tariff, saying that Lesotho had a 99% tariff on US imports. Lesotho has said it does not know how the US arrived at this figure.

With the threat of a 50% tariff looming, many businesses in Lesotho were forced to lay off workers. The country is known as the denim capital of Africa, and produces textiles that are sent all over the world.

The BBC recently visited a clothing factory in Lesotho which has produced golf shirts for Donald Trump's business in the past.

"We don't know how we survive this one. We are going to die," factory worker Aletta Seleso told our reporters.

The drop to 15% tariffs will be a relief to Lesotho, but it may still be some time before workers that were fired are rehired by the industry.

The textile and garment industry is Lesotho's largest private sector employer providing, at its peak, around 50,000 jobs, out of a population of just over two million.

The figure now hovers around 36,000 according to the government, with 12,000 jobs directly affected by the US tariffs.

Read more: Lesotho factory that made Trump golf shirts hit hard by US tariffs

Taiwan's President, Lai Ching-te, says the 20% tariff issued by the US is only "temporary" as they have yet to wrap up negotiations with Washington.

Taipei officials will continue to fight for a fair tariff and complete the final stage of negotiations, he says in a statement posted on social media.

The tariff rate is higher on Taipei than many Asian exporters like Japan and South Korea which were given a 15% tariff deal.

In April, Taiwan was initially threatened with a 32% levy on goods imported to the US.

Suranjana Tewari
Asia Business Correspondent

The White House has announced new tariff rates for dozens of countries that haven't yet reached a trade deal with the United States by the 1 August deadline, which is a few hours away.

The measures are due to come into effect in seven days' time.

This was supposed to be the day that Trump’s so called "Liberation Day" tariffs kicked in.

Instead, the White House announced a battery of new tariffs for partners, forging ahead with his global trade war.

The rates are as high as 50% on some imports. Trump has announced eight deals so far, including with the EU, Japan and the UK, although the details of all agreements remain hazy.

Few nations have been spared.

Canadian imports will face some of the highest taxes, of 35%.

Earlier, Mexico was given ninety more days to agree a deal.

Thailand – which was facing a tariff of 36% now faces a 19% tariff, in line with competitors in the region like Indonesia and the Philippines.

Taiwan faces also duties of 20% but it’s not yet clear if its chip industry will face separate sectoral tariffs.

Peter Hoskins
Business reporter, Singapore

Back in April, after Trump unveiled his "Liberation Day" tariffs salvo his administration was promising "90 deals in 90 days".

His officials declared that countries all over the world were desperate to make concessions to avoid the massive new levies on their exports to America.

Some 120 days later, the deal count stands at a somewhat lower eight and the details of all of those agreements remain hazy at best.

In fairness, these kinds of trade pacts typically take years to complete rather days and weeks. Striking any deals, even just framework agreements, is something of an achievement.

Trump's ambition is to reshape a global trading system that he says was stacked against the US.

And while he has yet to achieve many of his goals, he is sending shockwaves around the world that will reverberate for years to come.

Here are the steepest tariffs announced against US trading partners by Trump.

Syria leads with a new tariff rate of 41% - a whopping figure for a country which is struggling to recover from its recently-ended 14-year civil war.

Laos and Myanmar are both next on the list, with 40% tariffs each. Experts have been warning that Trump's new tariffs were expected to hit Asian economies extra hard.

Switzerland is coming in at 39%. As we reported earlier, it is the only country that does brisk trade with the US to receive such steep tariffs.

Iraq and Serbia are each being given a 35% tariff.

Four countries are being tariffed at a rate of 30%: Algeria, Bosnia and Herzegovina, Libya, South Africa.

Image source, Anadolu via Getty Images

Trump has given multiple reasons for the necessity of tariffs, alleging that the US has been treated unfairly by its foreign trading partners.

He has also given more specific justifications for some countries like Canada and Mexico, including that he is trying to exert pressure on his neighbours to curb illegal shipments of fentanyl into the US.

According to data from the US Customs and Border Patrol, about 0.2% of all seizures of fentanyl coming into the US occur at the border with Canada, with almost all of the rest confiscated at the Mexican border.

Earlier this month, Prime Minister Mark Carney posted that Canada “has made vital progress to stop the scourge of fentanyl in North America,” and is “committed to continuing to work with the United States to save lives and protect communities in both our countries”.

Myanmar, Laos and Syria have been given the highest duties in Trump's latest trade move - all at 40% or above.

But these countries represent a tiny fraction of US imports compared to others - Syrian goods coming into the US totalled $10.7m (£8.1m) in 2024 according to US government census data.

And for context, the US received $3.2tn (£2.4tn) imports in 2022, according to US trade authorities.

An exception to this pattern is Switzerland, with a new tariff rate of 39%. It exported $63.4bn (£48.01bn) to the US last year.