Trump tariffs take effect: ‘IT'S MIDNIGHT!!!'
'IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA,' the president wrote just before midnight on Truth Social.
In another post early Thursday, Trump wrote, 'Tariffs are flowing into the USA at levels not thought even possible!'
The president signed an executive order last week unveiling new tariff rates and delayed the implementation date by roughly a week. Now nearly all imports will face a 10 percent tariff.
Some nations will stare down higher import tax rates, such as Syria with 41 percent, Laos at 40 percent and Switzerland at 39 percent. Indonesia and Thailand will face a 19 percent tariff rate, while Japan, South Korea and the European Union are looking at a 15 percent figure.
Trump also increased the tariffs on goods coming into the U.S. from India by 25 percent on Wednesday, over New Delhi's purchase of Russia's oil. The move came after special envoy Steve Witkoff met with Russian President Vladimir Putin as the U.S. continues to push for peace in the more than three-year-long war in Ukraine.
India will now face a 50 percent tariff rate, which is set to kick in three weeks.
Later Wednesday, Trump wrote on Truth Social that 'billions' of dollars will start flowing into the U.S., mostly from countries that 'have taken advantage' of Washington.
'THE ONLY THING THAT CAN STOP AMERICA'S GREATNESS WOULD BE A RADICAL LEFT COURT THAT WANTS TO SEE OUR COUNTRY FAIL,' he said in the post.
The president first proposed his ' Liberation Day ' tariff agenda on April 2 but then instituted a 90-day extension a week later, following pressure from Wall Street and GOP lawmakers to stabilize the financial markets. The deadline was extended to Aug. 1 and subsequently bumped to Thursday.
Goods that are already on their way to the U.S. are exempt from import fees, along with items covered under the U.S.-Mexico-Canada Agreement, which was signed in 2020.
On Aug. 29, the exemption on de minimis goods will expire, meaning items shipped commercially that are worth $800 or less will no longer be able to evade import fees.
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