The White House today issued a list setting the rates for 68 nations and the 27-member European Union.

Australia is unaffected by today’s change and, along with other countries not on the list, will keep a 10 per cent baseline tariff on US exports.

An anonymous senior official from the Trump administration revealed to reporters that these rates were determined based on trade imbalances with the US and the regional economic conditions.

But whatever the method behind them, the tariffs left plenty of winners and losers.

Despite being a favourite target for Trump’s ire, Mexico has not been subjected to any new tariffs.

Instead, the president announced a new 90-day delay for tariffs on Mexico, with the current 25 per cent rate remaining.

Japan’s tariff has dropped substantially from 24 per cent to 15 per cent.

Indonesia’s tariffs fell from 32 to 19 per cent, and Thailand’s dropped from 36 to 19 per cent.

India has dropped from 26 to 25 per cent.

However, one of Australia’s nearest neighbors, New Zealand, has not been as lucky, receiving a notable tariff increase from the baseline 10 percent up to 15 percent.

After initially threatening the African nation of Lesotho with a 50 per cent tariff, the country’s goods will now be taxed at 15 per cent.

Tariffs for Taiwan have been set at 20 percent, while Pakistan is at 19 percent. Several other countries, including Israel, Iceland, Norway, Fiji, Ghana, Guyana, and Ecuador, will see their imported goods taxed at 15 percent.

Wealthy Switzerland would be tariffed at 39 per cent.

Developing nations experienced some of the toughest penalties. Syria faces a hefty 41 percent rate, with Myanmar and Laos each seeing a 40 percent tariff imposed.

Trump had initially announced a 50 percent tariff on Brazilian goods, but only 10 percent was applied since the remaining 40 percent was part of a different measure that Trump approved on Wednesday.