US President Donald Trump told reporters boarding with a reporter that he went to New Jersey to the White House in Washington, DC, August 1, 2025, Washington, DC, USA.
Jonathan Ernst | Reuters
U.S. President Donald Trump’s so-called “reciprocity” tariffs came into effect on Thursday, imposing higher tariffs on many trading partners’ exports to the United States
“It’s midnight!!! Billions of dollars in tariffs are now flowing into the United States of America!” Write Social truth on social media platforms.
In the early stage postal Trump has said that tariffs are targeting “countries that have taken advantage of the United States for many years.”
Trump last week – by August 1 tariff deadline – Restored tariff rates And postpone the deadline to August 7.
Some of the steepest responsibilities include a 41% tax rate in Syria, a 40% tax rate in Laos and Myanmar, while Switzerland (who was unsuccessful in the last minute deal, faced a 39% tariff.
Swiss negotiators traveled to Washington, D.C. this week for negotiations as the country’s higher interest rates surprised many, but so far, no agreement appears to have been reached. The Swiss government is expected to update later on Thursday.
Brazil and India Now they all face 50% of their responsibilities. India’s tax rate is currently at 25% and will rise to 50% later this month, according to an executive order signed on Wednesday. Trump said his tariffs on India were related to the current purchase of Russian oil.
Meanwhile, other countries and regions are also able to sign trade agreements with the United States, including the EU, Japan and South Korea, now face 15% tariffs – and the United Kingdom, and negotiate a 10% tax rate.
Others, including China and Mexicokeep the dilemma. China is currently truce in trade with the United States, while previously announced Mexican tax rates are being suspended.
“This game is not over yet”
Trump’s latest tariff announcement – including higher duties and threats to India 100% tariff On chips – show “This game is not over yet”, said Bill Papadakis, macro strategist at Lombard Odier.
“Recently, some optimistic builds have occurred recently as the overall level of uncertainty have been reduced. Some deals have been hit and the damage to the U.S. market has indeed taken Trump back to his most radical threat, and in that sense it reveals to us that we may not end in the worst case,” he told CNBC’s “early European version.”
But Papadakis also warned not to be overly optimistic. He noted that tariffs are now levied and their impact on economic growth and inflation is unclear.
