Trump's tariffs: Who are the winners and losers?

Trump's finalized list of tariffs imposes heavy levies on Switzerland, Laos, Syria, Iraq, Serbia, Algeria and others.

The penguins have been offered some relief. The people of Switzerland, Laos and Syria, not so much.

This is the unlikely jumble of winners and losers of President Donald Trump’s finalized list of tariffs, which governments, markets and businesses across the globe were scrambling to make sense of Friday.

Some countries, such as Canada and South Africa, reacted with grave disappointment, warning that Trump’s executive order could prompt job losses globally and rising costs for Americans. For others, the damage was not as bad as expected, with some able to thrash out deals before his deadline, and others hopeful of striking one in the future.

The president had already drawn confusion and alarm when first unveiling his tariff list in April.

Many analysts questioned, for example, why he was imposing a 10% levy on Heard and McDonald — two Antarctic outposts populated solely by penguins — or slapping a colossal 50% rate on the impoverished southern African nation of Lesotho.