Under the executive order, Trump has kept an existing baseline 10% tariff for about 100 countries, and reciprocal tariff rates for 70 countries will range from 15% to 41%. A separate order also raised tariffs on goods from Canada from 25% to 35% “to address the flow of illicit drugs” across the northern border.

Donald Trump has signed the executive order which will bring into force sweeping new tariffs on imports from dozens of countries. In a major break from the USA’s long-standing free trade policy, the US president has been hiking taxes on goods arriving on US soil from around the world.