7 countries (besides China) facing the highest tariff rates
President Trump pressed the pause button on tariffs for 90 days this week and sent the markets into extreme volatility.
When announcing the tariffs Trump said, “taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore.”
A few days later, he announced the pause for all countries except China (who will be tariffed at a 124% rate). But if the planned tariffs eventually go into effect, some countries will feel the pain worse than others. According to a list released by the White House earlier this week, these countries stand to feel the most pain.
Lesotho is a tiny kingdom surrounded by South Africa. In March, President Trump described Lesotho as a place “nobody has ever heard of.” People have heard of it now and it earns the distinction of receiving the most punishing tariff on this list at 50%.
United States Imports from Lesotho were US$242.46 Million during 2024, according to the United Nations COMTRADE database on international trade. The U.S. important garments (primarily denim), rough diamonds, and farm-raised trout.
Cambodia leads the list of countries to be impacted by reciprocal tariffs, at a 49% rate. United States imports from Cambodia were US$13.36 billion during 2024, according to the United Nations COMTRADE database on international trade. Apparel, footwear, and travel goods dominated the trade.
United States imports from Laos were US$849.74 million during 2024, according to the United Nations COMTRADE database on international trade.
According to the U.S. Trade Representative’s office, the U.S.A imports primarily optical and medical instruments, electronics, footwear, apparel, and natural resources like salt, sulfur, and stone.
The United States imports from Madagascar were US$753.23 million during 2024, according to the United Nations COMTRADE database on international trade.
According to the U.S. State Department, U.S. imports from Madagascar are primarily apparel, vanilla beans, and precious stones/metals.
Madagascar will be subject to a 47% tariff.
Vietnam is sixth on the list at a 46% reciprocal tariff rate.
According to the U.S. governments Bureau of Industry and Security, in 2022, the most recent year statistics are available, U.S. received $127.5 billion in imports from Vietnam.
Sri Lanka
Sri Lanka will get slapped with a 44% tariff.
Myanmar
Myanmar will get slapped with a 44% tariff.
United States Imports from Myanmar were US$683.25 million during 2024, according to the United Nations COMTRADE database on international trade.
According to the Observatory of Economic Complexity, main imports from Myanmar to the USA include trunks and cases, garments, and frozen fish.