Trump Imposes Sweeping Tariffs on Dozens of Countries

US President Donald Trump signed an executive order imposing "reciprocal" tariffs of 10% to 41% on imports from dozens of countries, effective August 7. India faces a 25% duty, Taiwan 20%, and South Africa 30%, while Canada is slapped with 35% duties. The tariffs are part of Trump's protectionist strategy to reshape global trade and benefit the US economy, but have raised fears of inflation and economic fallout. Some countries, including Vietnam, Japan, and the EU, have struck deals with Washington to avoid the higher tariffs, while others, like China, are exempt from the latest measures and are working towards extending a truce.

US President Donald Trump's imposition of global tariffs has yielded some short-term "victories" but may have long-term negative consequences. Trump's trade policies have led to a wave of protectionism globally, with many countries re-evaluating their trade relationships with the US. While the initial fears of massive financial disruptions have not materialized, experts warn that the tariffs could still "damage" the global economy by raising prices, squeezing household incomes, and reducing demand. The impact varies by country, with some like Germany potentially facing significant economic hits due to their large trade exposure to the US, while others like India may be less affected due to their relatively small trade dependence on the US. Trump's tariffs have also prompted countries to seek new trade alliances, potentially undermining the US's long-term trade relationships and economic influence. The US economy may also suffer in the long term, with growth expected to lose momentum as the year progresses despite a short-term boost from export sales ahead of the tariffs.

President Trump announced a 25% tariff on imports from India, citing the country's high tariffs and trade barriers, as well as its purchases of Russian oil and military equipment. The US trade deficit with India rose 5.4% to $45.7 billion, despite increased US exports. Trump had previously met with Indian Prime Minister Narendra Modi and agreed to increase military sales and make the US India's leading oil and gas supplier, but the trade deal ultimately fell through.

President Trump announced higher tariffs on imports from over 60 US trading partners, effective in seven days, just before a self-imposed midnight deadline. The tariffs range from 10% to 41%, with countries with larger trade deficits with the US facing higher rates. The new tariffs apply to nearly 70 trading partners, including Canada, whose tariffs will jump from 25% to 35%. Trump's administration has reached trade deals with some countries, including Japan, South Korea, and the EU, but many others remain without agreements, accounting for 56% of US imports. The president remains willing to negotiate with countries that haven't struck deals, despite saying it's "too late" to avoid the new tariffs.

Asia-Pacific markets fell on Friday after U.S. President Donald Trump modified "reciprocal" tariff rates on several countries. South Korean stocks led losses in the region, with the Kospi index plunging 2.3%. China's manufacturing activity shrank in July, according to a private sector survey, as new business growth softened due to uncertainties over U.S. tariffs. Asian tech giants mostly fell, with Tokyo Electron dropping 17% and SK Hynix plunging 5.12%. Asia-Pacific currencies mostly depreciated against the U.S. dollar. India's benchmark Nifty 50 and BSE Sensex indices also fell in early trade. Analysts at Morningstar said that the revised tariffs were "expected" and may not significantly impact markets, but negotiations between the U.S. and China are now in focus.

US President Donald Trump revised reciprocal tariff rates for several countries ahead of a Friday deadline, with unlisted countries facing an additional 10% duty and a 40% tariff on goods transshipped to the US. Various countries reacted to the announcement: Cambodia's 49% tariff was reduced to 19%, with the Prime Minister thanking Trump; Thailand's tariff was lowered to 19% from 36%, with the Finance Minister stating it reflected the "close friendship" between the two nations; Taiwan's "temporary tariff" was set at 20%, down from 32%; Malaysia's rate was reduced to 19% from 25%; Japan secured a deal reducing tariffs to 15% from 25%; India faced a 25% tariff; Australia's rate remained at 10%, with the trade minister calling it a "vindication"; New Zealand's rate increased to 15% from 10%; Norway's rate stayed at 15%; Switzerland faced a 39% tariff; and Canada was hit with 35% tariffs, prompting disappointment from the Prime Minister.

US President Donald Trump signed an executive order modifying "reciprocal" tariffs on dozens of countries, with duties ranging from 10% to 41%, effective August 7. Countries not listed will face an additional 10% duty, while goods considered transshipped to avoid duties will be subject to a 40% tariff. The order lowers tariffs on some Asian nations, such as Thailand and Malaysia, but increases them on others, including Syria, Laos, and Myanmar. Analysts warn that more tariff increases are likely to follow, and that countries will face "dramatically higher tariffs" that could be further increased at the president's discretion.

US President Donald Trump has signed an executive order imposing new "reciprocal" tariffs on several countries, with rates ranging from 10% to 41%, effective August 7. The move has sparked reactions from world leaders, with some countries like Switzerland and Canada being hit with high tariff rates, while others like Australia received a relatively low rate of 10%. Countries such as Japan and Thailand have promised to support businesses affected by the tariffs, while some governments have expressed optimism over lower levy rates. Trump's decision has rekindled global trade tensions, with some nations seeking a "negotiated solution" to the new tariffs.

President Donald Trump has introduced a new tariff plan, setting tariffs for every country worldwide and reversing decades of globalization. The "universal" tariff will be 10% for countries with which the US has a trade surplus and 15% for countries with a trade deficit. Some countries, including Algeria, India, and Vietnam, will face higher tariffs, ranging from 18% to 41%. Tariffs on goods from Mexico and Canada will also increase, although Mexico's rate was temporarily extended at 25% for 90 days. The new tariffs are set to take effect on August 7, except for Canada's, which will take effect immediately. The legality of the tariffs is being debated, with a court having previously found Trump's use of emergency powers to impose tariffs to be potentially overreaching.

The White House announced a new trade policy, including baseline tariffs for all countries, just hours before a midnight deadline set by President Trump. The move comes as the deadline for countries to strike a trade framework with the US or face higher tariffs was rapidly approaching. In a related development, Trump announced a 90-day pause on higher tariffs on Mexico.

CNN's Richard Quest discusses why he thinks Trump's tariff deals will never come to fruition, following the White House's announcement of its new trade policy, including baseline tariffs for all countries, with a "universal" tariff of 10% for countries with which the US has a trade surplus and 15% for those with a trade deficit.

US President Donald Trump has imposed new tariffs on dozens of countries without bilateral trade agreements, with rates ranging from 25% to 50%, despite a recent court ruling that his "Liberation Day" tariffs exceeded his authority. Some countries, including the UK, EU, Japan, and South Korea, have secured framework deals, while others face tariffs, although Mexico was granted a 90-day extension. The tariffs have generated $27 billion in revenue in June, but their legality is being challenged, and it is unclear if the deals will stick or survive legal scrutiny.

The White House has released a revised list of tariff rates against nearly 70 countries, with rates ranging from 10% to 50%, effective August 7. Notable rates include 15% for Iceland and Israel, 30% for South Africa, 39% for Switzerland, and 50% for Brazil. The tariffs are a result of the Trump administration's efforts to renegotiate trade deals with dozens of US trading partners, with some countries agreeing to meaningful trade and security commitments in exchange for lower rates. Countries not listed will be subject to a 10% tariff. The administration has secured major agreements with the European Union, the United Kingdom, Japan, and South Korea, among others, and is continuing to negotiate with over 100 countries.

President Trump imposed higher tariffs on Canada while giving Mexico a 90-day reprieve, raising tariffs on Canada to 35% from 25%, effective immediately, while tariffs on other nations take effect in a week. Canadian Prime Minister Mark Carney expressed determination to continue negotiations, but Trump's move was seen as a blow to his efforts to secure a trade deal. The decision was attributed to Trump's perceived animosity towards Canada and its previous prime minister, Justin Trudeau. Trump cited a "public health crisis" due to fentanyl smuggling from Canada, a claim disputed by statistics showing minimal fentanyl seizures at the northern border compared to the Mexican border.

President Trump has unveiled new tariffs on over 60 countries, including the European Union and Taiwan, with rates ranging from 10 to 41 percent, effective August 7. The tariffs are part of the Trump administration's efforts to remake the global trading system and reduce US imports. Countries that have reached trade agreements with the US, such as Japan and South Korea, received lower tariff rates. The new tariffs are expected to trigger uncertainty for US trade partners and may lead to higher prices for consumers. The administration also imposed a 40 percent tariff on goods deemed to be "transshipped" to avoid higher duties. Separate developments include a truce in the US-China trade battle and an increased tariff rate on Canada.

Malaysia has agreed to a 19% tariff deal with US President Donald Trump, which the country's trade ministry described as a "positive outcome". The reduced tariff rate, which also applies to Cambodia, Thailand, Indonesia, and the Philippines, was a result of intense negotiations and is lower than the initially proposed rate of 25-40%.

The US government sent mixed messages on the latest trade agreement with China, with White House press secretary Karoline Leavitt suggesting that an extension of the pause on tariff hikes was unlikely, while not providing clear confirmation. Treasury Secretary Scott Bessent was referred to for further clarification, but the Treasury Department did not immediately respond. Meanwhile, President Trump did not mention whether he had approved a plan to extend the suspension of tariff increases on Chinese goods.

Donald Trump signed an executive order modifying tariff rates on imported goods, effective immediately. Goods from every nation will be subject to a 10% tariff, except for 92 countries listed in an annex with higher rates. The highest tariff is 41% on goods from Syria. Tariffs on major US trading partners were adjusted, with some decreasing and others increasing. For example, tariffs on goods from Vietnam dropped from 46% to 20%, while those from Switzerland increased from 31% to 39%. Trump also raised tariffs on Canadian imports to 35% after criticizing Canada's decision to recognize Palestine as a state. The new tariffs have been met with criticism from lawmakers, including Chuck Schumer, who called them "chaos, dishonesty and inflation."

US President Donald Trump has imposed tariffs on dozens of countries, with rates ranging from 10% to 41%, in an effort to reshape global trade. The tariffs, which affect some of the world's poorest countries, are set to go into effect in seven days. Countries hit with punitive rates include Syria (41%), Laos and Myanmar (40%), and Libya (30%). Some countries, such as India, Taiwan, and South Africa, face tariffs of 25%, 20%, and 30%, respectively. Mexico was granted a 90-day extension on its tariff deadline, and Canada's tariffs were increased from 25% to 35%. The move has raised concerns about inflation in the US and sparked uncertainty for countries affected. Trump's action is part of a broader effort to renegotiate trade deals and impose "reciprocal" tariffs on countries he believes have taken advantage of the US.

US President Donald Trump has signed an executive order increasing tariffs on Canadian goods from 25% to 35%, effective immediately. The decision comes amid escalating trade tensions between the two countries, with Canada's Prime Minister Mark Carney expressing disappointment. The new tariffs will cover products not protected by the US-Mexico-Canada trade agreement and will affect industries such as lumber, steel, and automobiles. Canada has vowed to protect its jobs and diversify its export markets, and may impose counter-levies on US exports. Trump cited Canada's failure to address the fentanyl crisis as a reason for the tariffs, despite Canada accounting for only 1% of US fentanyl imports.

European officials say that a EU-US trade deal announced last weekend is not yet finalized, with many details still to be ironed out and discrepancies between the two sides. The deal, which avoids a 30% tariff on EU exports, still imposes a 15% tariff on most EU exports to the US, a significant increase from the previous 4.8% average rate. Key issues, including tariffs on pharmaceuticals, semiconductors, steel, and aluminum, remain unresolved, with the US and EU presenting different interpretations. Some EU countries, particularly Germany, Ireland, and Italy, are expected to be disproportionately affected by the new tariffs. European leaders, including French President Emmanuel Macron, have expressed concerns and called for a firmer stance in negotiations, which are expected to continue for some time.

European stocks are expected to open lower due to U.S. President Donald Trump's tariff changes, particularly a 39% import duty on Swiss imports. Swiss luxury stocks, including Richemont and Swatch Group, are likely to be affected. Some company reports, such as Euronext's quarterly earnings beating expectations and IAG's profit soaring on transatlantic demand, were also noted, but the overall sentiment remains negative. Futures data indicates losses for major European indexes, including the FTSE 100, DAX, and Stoxx Europe 600.

Critics of the EU-US trade deal, including French Prime Minister François Bayrou and German Chancellor Friedrich Merz, have expressed strong opposition, citing concerns about damage to their economies and values. However, the article argues that opponents of the deal are wrong, stating that internal reform matters more than external trade, and that the deal is not as detrimental as claimed.

The US has updated its tariff rates ahead of the August 1 deadline, with President Donald Trump's executive order imposing a 40% duty on goods considered to have been transshipped to America. The S&P 500 fell, but Microsoft's market cap rose above $4 trillion after its shares rose around 4%. Apple beat expectations for profit and revenue, while Amazon's gloomy guidance overshadowed its earnings. Novo Nordisk's stock plunged after it slashed its full-year guidance and appointed a new CEO. Global CEOs are rethinking their strategies due to uncertain trade rules and tariffs, shifting from "just in time" models to making goods closer to buyers and seeking exemptions.

S&P 500 futures slipped early Friday as traders digested President Trump's modified tariff rates and the latest Big Tech earnings, with Amazon tumbling over 6% after providing light operating income guidance and Apple jumping 2% on an earnings and revenue beat. The jobs report for July is expected later in the day, with estimates calling for a 100,000 increase to payrolls and an unemployment rate of 4.2%. The S&P 500 had its third straight losing day Thursday, despite solid earnings from Microsoft and Meta Platforms, and is on pace for a 0.8% loss week to date. Analysts remain bullish on the S&P 500 forecast, citing the AI gold rush and Big Tech's strong performance, but note uncertainty due to geopolitical tensions and monetary policy.

The US Treasury Department has imposed sanctions on Brazilian Supreme Court Justice Alexandre de Moraes, who is overseeing the case against former Brazilian President Jair Bolsonaro, an ally of Donald Trump. The sanctions claim Moraes is responsible for human rights violations and politicized prosecutions, including targeting Bolsonaro and censoring online speech. Moraes has been accused of detaining people without charges, infringing on freedom of expression, and silencing political critics through secret orders to ban online accounts. Bolsonaro is on trial for allegedly trying to remain in office after losing the 2022 election, and has denied the allegations, calling the prosecution a "witch hunt." Trump has defended Bolsonaro and imposed 50% tariffs on Brazilian products, citing Brazil's supposed disregard for democratic values and human rights.

Donald Trump has imposed sanctions on Alexandre de Moraes, a Brazilian Supreme Court judge, under the Global Magnitsky Act, freezing his assets in US banks and prohibiting him from entering the US. The move is seen as an unprecedented attack on Brazil's judiciary and is linked to Moraes' role in prosecuting Jair Bolsonaro, Trump's ideological ally. The US Secretary of State, Marco Rubio, defended the sanctions, framing them as a warning to those who would infringe on human rights.

Donald Trump's administration has launched an unprecedented attack on Brazil, imposing tariffs, investigating trade practices, and revoking visas of Brazilian Supreme Court judges involved in the prosecution of former President Jair Bolsonaro, with some officials calling for sanctions on a prominent justice, Alexandre de Moraes, under the Global Magnitsky Act, an action typically reserved for dictators and warlords, which has instead bolstered support for Lula's government.

President Trump is being criticized for wanting to investigate past Democrat conspiracies against him, but he is right to bring up the Russian collusion hoax. The Hillary Clinton campaign and Democrats spent four years claiming Trump colluded with Russia to steal the 2016 election, despite having no evidence. They undermined the integrity of American elections and tied Trump up in investigations and impeachments. Now, they are pretending the Russia hoax never happened. Trump resisted calls to go after Clinton during his first term, but the Democrats had no such qualms about targeting him. An investigation into the Russia collusion hoax is warranted to determine the extent of the conspiracy and those involved.

A declassified report from Trump-era special counsel John H. Durham shows that emails purportedly showing Hillary Clinton's campaign planned to tie Donald Trump to Russia were likely fabricated by Russian spies. The emails, known as the "Clinton Plan intelligence," were a key piece of evidence for Republicans claiming Clinton's campaign conspired to frame Trump. Durham's investigation concluded that the emails were probably manufactured, with a key figure denying sending them and evidence showing they were likely created from hacked emails from liberal think tanks.

President Trump has threatened to impose sanctions on Russia over its ongoing war in Ukraine, despite acknowledging that the threat of financial ruin may not affect Russian President Vladimir Putin. Trump's comments came after Secretary of State Marco Rubio revealed that the administration held secret talks with Russia, which yielded no progress on a ceasefire. Trump has shifted his tone on Russia, from initially questioning Ukraine's actions to now expressing frustration with Russia's continued aggression, and has dispatched his special envoy to Russia again. However, administration officials are skeptical that the latest engagement will be successful, and there are doubts about Trump's willingness to follow through on his threats, particularly if it affects other American interests, such as relations with China, India, and Turkey.

Ukrainian President Volodymyr Zelensky has overturned a law that curtailed the independence of two key anti-corruption agencies after thousands of young protesters took to the streets across the country. The law, introduced by Zelensky, had given the general prosecutor, a presidential appointee, the authority to decide who to prosecute in high-level corruption cases, rather than the independent agencies. The protesters saw the law as a threat to Ukraine's European future and its fight against corruption, a condition for EU candidate status. The Ukrainian parliament voted overwhelmingly to overturn the law, with MPs appearing to follow Zelensky's direction. The crisis has raised questions about Zelensky's dedication to anti-corruption reforms and his government's commitment to democracy.

Lithuanian Prime Minister Gintautas Paluckas resigned amid protests and investigations into his alleged business dealings, including a subsidized loan to a company he co-founded and a scandal involving EU funding. Paluckas denies wrongdoing, claiming the criticism is part of a "coordinated attack" by his political opponents. His resignation comes just before Russia and Belarus hold joint military exercises, potentially leaving Lithuania without a functioning government.