Trade war: Donald Trump's 'reciprocal' tariffs go into effect on dozens of countries today

Time of India

a day ago

US President Donald Trump's sweeping 'reciprocal' tariffs officially came into effect just after midnight on Thursday, hitting exports from over 60 countries and the European Union with higher import duties.
The move marks a significant escalation in Trump's aggressive trade policy, aimed at penalising nations he claims have taken 'unfair advantage of the US.'
'IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!' Trump posted on Truth Social, celebrating the implementation of the new tariffs.
Trump on Wednesday signed an executive order imposing an additional 25% tariff on all goods imported from India, citing national security and foreign policy concerns.
The White House claimed that India's continued purchase of Russian oil, directly or indirectly, poses an "unusual and extraordinary threat" to the United States.
With this move, the total tariff on Indian goods entering the US will rise to 50%.
The first 25% tariff will take effect on today (August 7), and the second round will begin 21 days later on August 27.
Trump described the additional 25% tariff on India as a punishment for its continued purchase of Russian oil during the war in Ukraine. 'We're being very clear — if you buy from Russia, you'll face consequences,' Trump said during a press briefing earlier this week.
The table above displays both the tariffs imposed on India—25% that took effect on August 7 and additional 25% set to take effect on August 27.
Both Brazil and India have both been hit with a 50% tariff.
The new tariff structure includes rates of 10% or more on goods from dozens of nations. Among the highest: Syria faces a 41% tariff, Laos and Myanmar 40%, and Switzerland 39%, after failing to secure a last-minute trade deal.
Canada, one of the US 's closest trade partners, is now subject to a 35% duty tariff and the United Kingdom, however, will see a lower rate of 10%.
Goods from Japan, South Korea, and the EU will be subject to a 15% duty, while products from Taiwan, Vietnam, Bangladesh, and several others will face a 20% tariff.
Some countries have managed to strike limited trade deals, reducing their tariff burden, while others including China and Mexico, remain in uncertain territory.
China, currently in a fragile trade truce with the US , could face further hikes on August 12 unless new talks succeed.
Trump had also
threatened more duties if China continues to buy Russian oil.
When asked whether China could face similar penalties for its trade in Russian oil, Trump said, "It may happen. I don't know, I can't tell you yet. But we did it with India. We are doing it probably with a couple of others, one of them could be China."
Trump also reiterated his intention to impose a 100% tariff on foreign-made computer chips, urging tech firms to expand US manufacturing.
The announcement came as Apple pledged a new $100 billion investment in American production, bringing its total US commitment to $600 billion.
The tariff rollout had faced several delays, with Trump initially launching the plan in April, then pushing deadlines in July and again to August 7.
The US President had vowed to negotiate 90 trade deals in 90 days but instead moved forward with the blanket tariff order.
Trump noted that the tariffs are expected to bring billions of dollars into the US economy. "I think the growth is going to be unprecedented," he had earlier said, adding that while the exact revenue figures are not yet known, "we're taking in hundreds of billions of dollars in tariffs."
With the new measures now active, trade tensions between the US and many of its key partners are expected to intensify, raising concerns about supply chain disruptions, rising costs, and retaliatory actions in the coming weeks.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.