Trump rejigs tariff rates ahead of deadline, levies 40% duties on all transshipped goods

U.S. President Donald Trump signed an executive order Thursday that modified “reciprocal” tariffs on dozens of countries, with updated duties ranging from 10% to 41%.

All goods that are considered to have been transshipped to avoid applicable duties will be subject to an additional 40% tariff, according to the White House.

Countries that are not listed in the latest order will face an additional duty of 10%, the order said. The updated directive modifies tariffs imposed under the earlier executive order issued in April.

The modified rates will be effective with respect to goods “entered for consumption on or after 12:01 a.m. eastern daylight time 7 days after the date of the order,” with some exceptions.

Trading partners that have reached or are near reaching trade and security agreements with the U.S. will be subject to the modified rates until those agreements are concluded, according to the executive order.

Trump followed through on his plan to raise tariffs on exports from Canada to 35% from 25%, starting Friday, barring goods that are covered under the U.S.-Mexico-Canada free trade pact he signed during his first term.

This is breaking news. Please refresh for updates.