Trump Executive Order Sets Tariffs For 68 Countries Starting Aug. 7

U.S. President Donald Trump on Thursday signed an executive order that set new tariffs on a wide swath of U.S. trading partners to go into effect on Aug. 7 — the next step in his trade agenda that will test the global economy and sturdiness of American alliances built up over decades.

The order was issued shortly after 7 p.m. on Thursday evening. It came after a flurry of tariff-related activity in the last several days, as the White House announced agreements with various nations and blocs ahead of the president’s self-imposed Friday deadline. The tariffs are being implemented at a later date in order for the rates schedule to be harmonized, according to a senior administration official who spoke to reporters on a call on the condition of anonymity.

The order capped off a hectic Thursday as nations sought to continue negotiating with Trump. It set the rates for 68 countries and the 27-member European Union, with a baseline 10 per cent rate to be charged on countries not listed in the order. The senior administration official said the rates were based on trade imbalance with the U.S. and regional economic profiles.

On Thursday morning, Trump engaged in a phone conversation with Mexican President Claudia Sheinbaum on trade. As a result of the conversation, the U.S. president said he would enter into a 90-day negotiating period with Mexico, one of the nation’s largest trading partners, with the current 25 per cent tariff rates staying in place, down from the 30 per cent he had threatened earlier.

“We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,” Mexican leader Claudia Sheinbaum wrote on X after a call with Trump that he referred to as “very successful” in terms of the leaders getting to know each other better.