U.S. President Donald Trump’s latest round of tariffs has officially taken effect, marking a sharp escalation in his administration’s ongoing trade war with countries around the world.
Just before the midnight deadline in Washington, Trump took to social media declaring,
“IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!”
The new tariffs target a broad range of U.S. trading partners and key global industries. India was hit with a 50% tariff, set to take effect on August 27 unless it halts its imports of Russian oil.
In response, New Delhi called the move “unfair, unjustified and unreasonable,” and vowed to protect its national interests.
Trump also threatened a 100% tariff on foreign-made computer chips in a move aimed at pressuring technology firms to relocate production to the U.S.
The announcement came shortly after Apple revealed plans for a $100 billion investment in its American operations, following mounting pressure from the White House to shift manufacturing stateside.
Southeast Asian economies that rely heavily on exports were among the hardest hit. Manufacturing-based countries like Laos and Myanmar now face tariffs as high as 40%.
Analysts suggest the targeted list appears to reflect strategic pressure on nations closely linked to China.
Taiwan, a key U.S. ally in the region, was slapped with a 20% tariff, though President Lai Ching-te described the rate as “temporary” while negotiations with Washington continue.
Brazil’s exports also face a new 50% levy following accusations by Trump that President Luiz Inacio Lula da Silva has been hostile toward U.S. tech companies and is involved in what he described as a political “witch hunt” against former President Jair Bolsonaro.
Tensions with Canada also flared, as Trump raised tariffs from 25% to 35%, citing the country’s alleged failure to stem the flow of fentanyl and other drugs across the border.
However, most Canadian exports will avoid the higher duties due to protections under the United States-Mexico-Canada Agreement (USMCA).
Mexico was spared immediate increases, with a 90-day delay on higher tariffs as talks continue on a new trade deal. Meanwhile, the European Union has struck a framework agreement with Washington, accepting a 15% tariff on goods from the bloc to avoid more severe penalties.
The UK, Japan, and South Korea have also reached individual deals to reduce their exposure to Trump’s trade measures.
Notably, major semiconductor manufacturers such as Taiwan’s TSMC and South Korea’s Samsung and SK Hynix are expected to be exempt from the new 100% chip tariff due to their substantial U.S. investments.
However, official confirmation from the White House is still pending.
The United States and China continue to engage in talks ahead of the expiration of a 90-day tariff pause on August 12.
Trump maintains that the tariffs are necessary to correct what he sees as an imbalanced and unfair global trade system.
Critics, however, warn that the sweeping measures could drive up costs for consumers and fuel further instability in the global economy.
