US President Donald Trump will speak with a reporter boarding Marines to depart for New Jersey on August 1, 2025 at the White House in Washington, DC.
Jonathan Ernst | Reuters
President Donald Trump’s so-called “mutual” tariffs came into effect Thursday, imposing a higher obligation on exports of many national trade partners to the United States
“It’s midnight!!! Billions of dollars of tariffs are flowing in the United States!” Trump wrote on the Truth Social on social media platforms.
In a previous post, Trump said tariffs were targeting “countries that have been using the United States for many years.”
Trump last week – ahead of the August 1 tariff deadline, tariff rates have been readjusted and the deadline has been pushed back to August 7th.
The most steep mission includes a 41% for Syria and a 40% for Laos and Myanmar, but Switzerland faces a 39% tariff after failing in a last-minute scramble for the contract.
Apart from that, Brazil and India are currently facing 50% of their duties. Although the Brazilian tariffs appear to have begun, according to an executive order signed on Wednesday, India’s fees will now be 25%, rising to 50% later this month. Trump said his tariffs on India are related to the current purchase of Russian oil.
