Donald Trump Tariff Surge: On July 31, 2025, the former president trump signed an executive order instituting massive new ‘reciprocal tariffs’ between 10% and 41% on imports from almost 70 countries and the EU, with the effective date being August 7.
The tariffs set a 10 percent baseline rate for countries having trade surpluses. And those with deficits bear at least 15 percent, with allowances for higher specific rates per country.
Syria is charged the highest rate of 41%; Myanmar and Laos come close by glaring at 40%.
Among the major partners included in the long list of countries with high duties are India-25%. Taiwan-20%; South Africa-30%; Switzerland-39%; and Canada-35%.
What Are the Tariffs For?
These have been framed by the Trump administration as reciprocation for what it would call “unfair trade policies”. And economic imbalances. This framework is labelled by officials as the new system of trade that seeks to compel countries into better terms with the United States.
The financial markets reacted conversely:
The Dow and other U.S. benchmarks slipped about 1.2%, with the S& P 500 and Nasdaq sinking anywhere between 1.3 to 1.7%.
Analysts believe that the margins will start to get pinched further, while global supply chains will sure to be disrupted.
Increased concern stemmed from Taiwan and South Korea, with the two countries beginning new tariffs of 15 to 20 percent. Foreign currency and equity markets tumbled in response.
Partial Relief & Negotiations
So far, there are at least a few countries that scored some negotiated exemptions or reduced rates:
Mexico, Japan, South Korea, Vietnam, and Indonesia were given temporary lower duties (15-20 percent) or extended deadlines to still finalize deals.
Legal Pushback & Judicial Oversight
There have been questions about just how legal this tariff program will be. A U.S. trade court recently ruled that sweeping prior “Liberation Day” tariffs exceeded presidential authority under emergency economic powers, implying future litigation on the enforceability of similar presidential executive actions.
ALSO READ: Trump Tariff Impact: Market Faces Caution, Pharma Stocks Hold Strong
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