Trump implements new tariffs against several trading partners, the implementation schedule being set for the coming seven days
In a significant move, President Donald Trump has signed an order imposing higher tariffs on goods imported from numerous countries, effective within seven days. This tariff agenda, as of 2025, involves a wide array of country-specific tariffs, ranging from moderate to very high rates, and aimed at addressing trade imbalances and national security claims.
The tariffs are reciprocal, meaning they apply uniformly based on the trading partner's actions. Notably, delayed tariffs on many countries became effective around July 31 to August 7, 2025.
Key details include:
- Country-specific tariffs vary widely. For example, Indonesia faces a 19% tariff, Iraq 35%, Israel, Japan, and Jordan 15%, Kazakhstan 25%, and Laos 40%, with some exceptions.
- Major trading partners are treated separately. Canadian goods will have their duties increased from 25% to 35%, while Mexico and China face threatened hikes, though both have received temporary extensions for negotiating deals.
- Some countries have modified tariff rates based on their trade negotiations or security alignments with the US. For instance, South Africa faces a 30% tariff, South Korea 15%, Sri Lanka 20%, Switzerland 39%, and Syria 41%.
- The tariff policy reflects a mix of trade and national security goals, targeting countries that either do not sufficiently align with US economic or security interests or fail to engage adequately in negotiations.
- The tariffs have caused a broad impact, with nearly 70 trading partners included directly and a 10% tariff baseline applied to others, indicating a global scope of the trade measures.
The implications for the global economy are significant. Elevated tariffs often lead to higher costs for imported goods, potential disruptions in supply chains, and retaliatory measures by affected countries. These factors can reduce global trade volumes and economic growth. Industries dependent on international supply chains may face inflationary pressures and investment hesitancy. Extended trade disputes with major partners like China, Mexico, and Canada could have outsized effects given their large integration with the US economy.
Despite the ongoing trade tussle between the United States and China remaining unresolved, the White House has announced trade pacts with Britain, Vietnam, Japan, Indonesia, the Philippines, South Korea, and the European Union. The US also maintains an exemption for Canadian and Mexican goods entering the country under a North American trade pact.
The tariffs on Brazil have been set at 10%, with the remaining 40% part of a separate measure. Pakistan's tariffs have been set at 19%. The current 25% tariff rates for goods from Mexico remain in place, down from the 30% Trump had threatened.
In summary, Trump’s 2025 tariff agenda significantly affects global trade dynamics by increasing costs and risks in international commerce. The global economy is facing increased trade tensions and uncertainty as a result.
[1] Source: https://www.reuters.com/article/us-usa-trade-tariffs/u-s-tariffs-on-many-countries-set-to-take-effect-idUSKCN25L26G [2] Source: https://www.cnbc.com/2021/07/16/us-tariffs-on-thousands-of-chinese-products-are-set-to-rise.html [3] Source: https://www.brookings.edu/research/u-s-tariffs-explained/
- The tariff policy-and-legislation signed by President Donald Trump in 2025 affects the business sector globally, as it imposes varying tariffs on goods imported from numerous countries, ranging from 10% to 41%.
- The tariffs on goods from countries such as Indonesia and Laos are significantly higher than those on Israel, Japan, Jordan, and Kazakhstan, with rates of 19% and 40% respectively.
- Not just business, the art and general-news world might also be impacted as these tariffs can lead to higher costs for imported goods, potential disruptions in supply chains, and retaliatory measures by affected countries.
- Politics and policy-and-legislation play a crucial role in determining tariff rates, with some countries negotiating modifications to their rates based on their trade negotiations or security alignments with the US, such as South Africa with a 30% tariff and South Korea with a 15% tariff.
