Trump Unleashes New Tariff Regime: Evening Asia Briefing

Tariff day has arrived. It’s a slightly confusing picture. Baseline rates for many trading partners the new regime are now largely in line or lower than those announced four months ago, although some countries, such as Canada, face more punishing levies.

Still, at an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s, roughly six times higher than they were a year ago. US President Donald Trump’s latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the US.

Switzerland got whacked with a 39% rate, while the ...