On August 1st, according to online reports: On July 31st local time, White House Press Secretary Sean Spicer announced that President Trump has ordered the modernization of certain facilities on the east wing of the White House and the construction of a new banquet hall. The project is expected to commence in September and be completed before the end of Trump’s presidency.
The new banquet hall covers an area of approximately 8,300 square meters and can accommodate 650 guests, costing about $200 million, with contributions from both Trump himself and undisclosed donors.
The new banquet hall for 650 guests in the White House, courtesy of the White House.
On July 31st local time, President Trump signed an executive order determining “countervailing” tariff rates to be imposed on various countries and regions, with specific rates ranging from 10% to 41%. The effective date for the implementation of the countervailing tariffs was also postponed to August 7th, not the previously set date of August 1st.
Syria’s countervailing tariff rate is the highest at 41%
Philippines, Thailand, and Cambodia have rates of 19%,
Brazil, the United Kingdom have the lowest rate of 10%,
Most countries and regions have a tariff rate of 15%, including Japan, South Korea, Israel, and Turkey.
For EU countries, if the current tariff rate is below 15%, it will be supplemented to 15%; if it exceeds 15%, no additional charges will be applied.
The executive order also states that countries not listed will apply a uniform 10% tariff rate. Moreover, goods of any country or region that circumvent tariffs through third-party transfer will be subject to a 40% transit tax.
In the annex to this executive order, it was noted that the effective date for the above-mentioned countervailing tariffs would be implemented seven days after the order’s issuance (excluding the day itself), which means they would not take effect until August 7th, instead of the previous August 1st.
Furthermore, senior U.S. government officials stated that the U.S. would implement new rules of origin in the coming weeks to determine the tariff rates for goods transported across borders.
Earlier that day, the White House also announced that Trump had signed an executive order increasing the tariff rate on Canada from 25% to 35%, effective August 1st.