Trump Administration Announces Permanent Tariffs on 59 Countries, Taiwan Included at 10%

According to the U.S. Trade Representative (USTR) announcement on June 2, the Trump administration announced plans to impose permanent tariffs targeting 59 countries and the EU. Taiwan, along with 13 other nations including Argentina, Bangladesh, the UK, Canada, and Mexico, face a 10% tariff rate. Another 45 countries, including China, Japan, and South Korea, will face 12.5% tariffs, citing failure to effectively prevent forced labor products from reaching U.S. markets.

The measures are based on Section 301 of the 1974 Trade Act and will take effect this summer. Some products, including energy, rare earth minerals, beef, coffee, and aircraft components, are exempted. The USTR also plans to establish a mechanism for textiles allowing lower tariff rates on certain apparel products.