U.S. President Donald Trump has announced a sweeping new round of tariffs on exports from dozens of countries—including Canada, Brazil, India, Taiwan, and Switzerland—as part of an aggressive push to reshape global trade ahead of a self-imposed Friday deadline for new trade agreements.

Under an executive order signed Thursday, Trump set sharply higher import duties: 35% on Canadian goods, 50% on Brazilian exports, 25% for India, 20% for Taiwan, and 39% for Switzerland. Affected goods from 69 trading partners will face tariffs ranging from 10% to 41%, starting in seven days.

While some countries had entered talks with the administration in recent weeks, others were blindsided by the decision and had no chance to negotiate. Trump included a limited exemption for products already in transit, but imports from countries not listed will still face a baseline 10% tariff—subject to future increases.

The move reflects Trump’s broader strategy to reduce trade deficits and revive U.S. manufacturing, using tariffs as a tool to extract more favorable terms from foreign governments. White House officials hinted that additional trade agreements were in the works and would be announced soon.

Markets reacted with relative calm compared to earlier rounds of tariff announcements, though Asian equities dipped modestly in Friday morning trading.

The executive order stated that some countries “have failed to address imbalances in our trading relationship” or “do not sufficiently align with the United States on economic and national-security matters.”

More details, including the rules of origin that will determine product eligibility, are expected to follow.

Canada, Mexico Face Diverging Paths

In a separate measure, Trump increased tariffs on Canadian goods linked to fentanyl enforcement—from 25% to 35%—citing Ottawa’s “lack of cooperation” in stemming illicit drug flows to the U.S.

By contrast, Mexico was granted a 90-day delay on planned 30% tariffs to allow more time for ongoing trade negotiations. The divergent treatment of America’s North American neighbors underscores Trump’s transactional approach to international economic relations.

“We’ve made a few deals today that are excellent for the country,” Trump said, though details were not immediately disclosed.

The sweeping tariff action further solidifies Trump’s hardline trade posture and sets the stage for continued tensions with key global partners as he seeks to bolster domestic industry in the lead-up to upcoming political milestones.