Shafaq News – Washington
US President Donald Trump hasenacted a sweeping set of tariffs on dozens of trading partners—includingIraq—just ahead of a self-imposed Friday deadline, as part of a broader tradeagenda aimed at revising the rules of international commerce.
A presidential executive orderissued late Thursday confirmed new import duties ranging from 10% to 41% ongoods from 69 countries. Iraq faces a 35% tariff, among the highest imposed,alongside rates of 41% for Syria, 40% for Myanmar, and 39% for Switzerland.
Many other countries fall within the15% to 25% range. Nations not listed in the annex — including Brazil and Canada— are subject to a default 10% tariff. For the European Union, duties areadjusted based on existing tariff levels, with a minimum total rate of 15%applied to goods currently taxed below that threshold.
Temporary exceptions apply to goodsalready in transit, with the new tariffs set to take effect seven days afterissuance.
The order stated that the measure isintended to address trade imbalances, strengthen US manufacturing, and supportnational security goals. It added that some trading partners, “despite havingengaged in negotiations, have offered terms that, in my judgment, do notsufficiently address imbalances in our trading relationship or have failed toalign sufficiently with the United States on economic and national-securitymatters.”
While financial markets showed onlya limited response — with stocks and equity futures in Asia dipping modestly onFriday — the administration’s tariff policy has delivered a different kind ofimpact. According to the US Treasury, tariff revenue reached $27 billion inJune, more than triple the amount collected during the same period last year.
Since returning to office inJanuary, Trump has made trade reform a central priority, aiming to boostdomestic industry and reduce long-standing deficits. The White House arguesthat foreign exporters will bear the cost of the tariffs, which it says willencourage investment in US production. Trade analysts, however, point out thatimporters typically pay the duties and often pass those costs on to consumersthrough higher prices.
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