US Imposes Reciprocal Tariffs on 92 Countries Ranging 10% to 41%

President Donald Trump has implemented a revised tariff regime imposing import duties ranging from 10% to 41% on goods from 68 countries and the European Union, effective August 7, 2025. These tariffs are part of Trump's strategy to enforce “reciprocal tariffs” aimed at correcting trade imbalances and encouraging negotiated trade agreements, with some countries like the EU, Japan, and South Korea already reaching deals that lowered tariffs to 15%. Key industries targeted include automobiles and auto parts at 25%, with pending investigations into pharmaceuticals and semiconductors that could result in tariffs as high as 200% and 25% respectively. Notably, countries such as Laos, Myanmar, and Syria face some of the highest tariffs at 40% or above, while Canada’s tariffs increased to 35%, reflecting tensions related to political and trade disputes. The administration has allowed grace periods for goods already in transit and has warned against transshipment evasion with penalties up to 40%. Trump emphasized that while some nations agreed to meaningful trade and security commitments, others failed to meet U.S. expectations or engage adequately in negotiations, prompting the broad tariff implementation.