Trump Announces Broad Reciprocal Tariffs on August 7

President Donald Trump has signed an executive order imposing new reciprocal tariffs on nearly 70 countries, with rates ranging from 10% to 41%, effective August 7. Countries with which the U.S. has a trade surplus face a baseline 10% tariff, while those with a trade deficit face a minimum 15% rate; Brazil and Syria are subject to even higher tariffs of up to 50% and 41%, respectively. Canada’s tariff rate increased from 25% to 35% on non-USMCA exports, and a 40% penalty applies to goods transshipped to evade duties. Some nations, including South Korea, Japan, and the UK, secured lower rates through negotiations, while Taiwan received higher-than-anticipated tariffs. The administration argues these measures will address trade imbalances, generate revenue, and strengthen economic and security ties, though analysts caution about possible negative impacts on global trade and U.S. growth. The tariffs represent a substantial shift in U.S. international trade policy and have drawn concern from both allies and adversaries.