US Tariffs Hit Dozens of Nations as New Rates Take Effect
Global Exports Face Higher Costs Amidst Retaliatory Measures
Dozens of countries are now confronting increased import duties on their goods entering the United States, as President Donald Trump‘s latest round of country-specific tariffs have been implemented. These sweeping “reciprocal” rates, announced just last week, came into force at midnight Washington time on Thursday.
Trump Claims Revenue Boost
On social media, **President Trump** asserted that billions of dollars would soon flow into the U.S. treasury due to these new tariffs. While these duties make exports more expensive and less competitive for affected nations, they are paid upon import and typically passed on to consumers.
The President also referenced an ongoing legal challenge concerning his authority to impose these tariffs, stating, “The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail.”
Varied Rates Impacting Global Trade
The new tariffs range significantly, with war-torn Syria facing a 41% levy and the UK encountering a 10% increase. These rates are applied in addition to existing import duties.
Brazil’s situation exemplifies the cumulative effect, as a 10% “reciprocal” rate, combined with a 40% additional levy imposed on Wednesday due to the prosecution of former president **Jair Bolsonaro**, brings the total to 50%. The European Union, however, benefits from a framework deal that sets its baseline rate at 15%, consolidating previous tariffs. For instance, cheeses that previously faced a 14.9% import duty will now be taxed at 15%.
Nations Scramble for Deal Reductions
Since the initial announcement, governments worldwide have been actively seeking agreements to avoid these border taxes, fearing negative impacts on investment and employment. The Swiss president, **Karin Keller-Sutter**, met with U.S. officials in Washington to discuss a 39% levy that had reportedly caught the Swiss government by surprise.
Switzerland’s government planned an emergency meeting following the return of its delegation from Washington. Meanwhile, India faces a potential 50% total tariff, an increase from its 25% rate, after the U.S. imposed an additional levy in response to India’s oil purchases from Russia. India has a 21-day window to respond, and **Trump** has indicated similar actions could target other nations supplying Russia.
Tariff Rollout and Exemptions
**Trump** first revealed these country-specific rates on April 2, a day he termed “liberation day,” asserting decades of global exploitation of the U.S. Following initial pauses and truces, the new rates were confirmed last Friday.
Some trading partners, including the UK, Thailand, Cambodia, Vietnam, Indonesia, the Philippines, Japan, South Korea, Pakistan, and the EU, managed to secure tariff reductions through negotiations or existing trade agreements. Canada now faces a 35% total rate, implemented last Friday, while Mexico received a 90-day extension on its 25% rate. China’s 30% tariff remains under negotiation, with a deadline for higher rates on August 12.
In a separate development on Wednesday, **Trump** also threatened a 100% tariff on semiconductor chips manufactured by companies not producing within the United States.
