(Adnkronos) – “It’s midnight!!! Billions of dollars in tariffs are now flowing into the United States of America!”. US President Donald Trump wrote this on Truth Social, speaking of the new and substantial tariffs he imposed on countries around the world, which came into effect after midnight. Before today, virtually all goods from every country were subject to a minimum 10% tariff. From midnight, tariffs vary considerably from country to country. The highest rates apply to goods from Brazil (50%), Laos (40%), Myanmar (40%), Switzerland (39%), Iraq (35%) and Serbia (35%). Another 21 countries are subject to taxes above 15%. These include several states on which the United States relies heavily for a variety of goods, such as Vietnam (20%), India (25%), Taiwan (20%) and Thailand (19%).
Goods from India could also be subject to a further 25% duty, due to an executive order signed yesterday by Trump aimed at penalizing New Delhi for buying oil from Russia. This second duty is expected to take effect on August 27. According to a list published last week by the White House, goods from thirty-nine countries, including members of the European Union, are subject to 15% duties.
In addition to Canada and Mexico, all other countries from which the United States imports goods will continue to be subject to a minimum tariff of 10%, albeit with some exemptions. Goods from Mexico and Canada are exempt from customs duties if they comply with the United States-Mexico-Canada Free Trade Agreement. Otherwise, goods from Mexico are subject to 25% duties, while goods from Canada are subject to 35% duties, up from the previous 25%.
