Trump's new sweeping tariffs take effect
The new rates are part of Trump's broader tariff campaign launched in April, when he accused other countries of unfair trade imbalances. He has framed the measures as a 'reciprocal' response to secure better trade terms. After a 90-day pause introduced a week later and a four-week delay announced in July, Trump last week confirmed the new rates will become effective on August 7.
While some countries now face lower duties than were threatened in April – Madagascar's dropped from 47% to 15% - others saw increases. Switzerland's rate rose from 31% to 39%. Syria faces the highest new rate at 41%, followed by Myanmar and Laos at 40%, Iraq at 35%, South Africa at 30%. The UK and Brazil were hit with 10%, though an earlier Trump order imposed 40% on select Brazilian goods in retaliation for alleged 'serious human rights abuses.'
India is being levied at 25%, and Taiwan at 20%.
Trump announced the measures on Truth Social just before they took effect: 'Reciprocal tariffs take effect at midnight tonight! Billions of dollars, mostly from countries that have taken advantage of the United States for years, laughing all the way, will start flowing into the USA.'
Countries that reached trade deals with Washington since April – including the EU, Thailand, Vietnam, Indonesia, Cambodia, South Korea, Pakistan, and the Philippines – received adjusted terms. Others are still negotiating: Mexico kept its 25% rate after securing a 90-day extension, while China faces a 30% tariff as talks continue ahead of its August 12 deadline.
While Russia has not been hit with tariffs due to the sweeping sanctions on the country that already exist, Trump earlier warned he may impose more duties on its trade partners if the Ukraine conflict is not resolved by August 8. On Wednesday, he threatened to double India's tariffs to 50% by late August, accusing it of aiding Moscow by purchasing Russian oil, and hinted at fresh tariffs on China.
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