The executive order signed by US President Donald Trump listing future reciprocal tariff rates had differing levies for 14 countries from what US President Donald Trump showed in a chart at Rose Garden event to announce the move on Wednesday. Details attached with the executive order showed effective tariff rate for India at 27%, compared to 26% mentioned on the rate-chart-like list Trump showed.
Tariff on imports from South Korea was penciled in at 26% in Annex I of the reciprocal tariff executive order, compared to 25% shown in Trump's chart. Tariff rates differed for Botswana, Cameroon, Malawi, Nicaragua, Norway, Pakistan, the Philippines, Serbia, South Africa, Thailand, Vanuatu, and the Falkland Islands, as per a Bloomberg report.
Trump has announced 10% base tariff rate on all exports to the US which will be effective on April 5. After four days, rates for the 14 economies would increased to the rates listed in the annex, Bloomberg report said.
Some overseas territories and possessions of larger countries which featured in the chart presented at the event did not even appear in the annex with 57 countries.
Reunion, a French overseas territory in the Indian Ocean, was surprisingly listed at 37% in Trump's reciprocal tariff charts, but it didn't make it to the formal annex. Similarly, Saint Pierre and Miquelon, a French archipelago near Canada, and Norfolk Island, an Australian territory east of Brisbane, were also left out, the report said.
It's interesting to note that France, as an EU member, faces a 20% reciprocal tariff, while Australia has a relatively lower global minimum levy of 10%, the report said.
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