US President Donald Trump's new tariffs on more than 90 countries have officially come into effect, signalling a decisive shift in US trade policy. Just before the negotiation deadline, Trump claimed on his Truth Social platform that the tariffs were bringing significant revenue into the United States.

 

India faces a substantial 50% tariff set to begin on 27 August unless it reduces its purchase of Russian oil. This move underscores Trump's strategy of using economic measures in international relations. Additionally, Trump threatened a 100% tariff on foreign-made computer chips to push tech companies towards investing in the US. This pressure has already led Apple to announce a $100bn investment in its American operations.

The Trump administration recently extended the deadline for countries to negotiate lower tariffs to 7 August. This extension has resulted in a flurry of diplomatic activity as nations aim to avoid what Trump terms "reciprocal tariffs." His administration's goal is to reshape global trade, which he argues has been unfair to the US.

 

Export-dependent Southeast Asian countries, such as Laos and Myanmar, are among those hardest hit, facing tariffs as high as 40%. Analysts suggest that Trump has strategically targeted nations with strong trade ties to China, reflecting broader geopolitical objectives.

Asian stock markets had a mixed reaction to the tariffs. Markets in Japan, Hong Kong, South Korea, and China showed resilience with slight gains, while India and Australia experienced declines.

 

Economist Bert Hofman from the National University of Singapore noted that the latest tariffs might provide some stability after months of trade volatility, allowing for more consistent economic assessments despite the ongoing disruptions.

Several major economies have already reached agreements to mitigate the impact of these tariffs. The UK, Japan, and South Korea secured lower tariff rates compared to those initially threatened. Simultaneously, the European Union agreed to a framework deal with the US, accepting a 15% tariff on its goods.

 

Switzerland, however, is yet to reach an agreement and faces a high tariff of 39%, posing a potential threat to its economy. An extraordinary meeting is planned to address this challenge.

Taiwan, a key ally of Washington in Asia, has been handed a 20% tariff. President Lai Ching-te described this rate as "temporary," expressing hope as discussions with the US continue.

 

Additionally, Canada saw an increase in tariffs from 25% to 35%, with Trump citing a lack of cooperation in controlling drug flows across the border. However, due to the United States-Mexico-Canada Agreement (USMCA), most Canadian exports remain unaffected.

Tariffs on Mexican goods have been paused for 90 days while negotiations persist, indicating ongoing diplomatic efforts to forge a new trade agreement.

 

These tariffs mark a significant moment in international trade relations, showcasing Trump's commitment to reshaping global trade frameworks. As countries worldwide adjust to these changes, the long-term effects on the global economy and international diplomacy remain uncertain.

 

 

  Adapted by ASEAN Now from BBC 2025-08-07

 

 

1 minute ago, CharlieH said:

US President Donald Trump's new tariffs on more than 90 countries have officially come into effect,

Hmm, where did I hear that number 90 before?

Oh yes I remember, it was thrown around many times in the 90 deals in 90 days claim.

How many days we are since that claim was first aired?

Not sure why India should not import cheap oil (wherever they can get it) while the USA imports approximately 6.28 million barrels annually. Sure, someone wants Russia dead but why should others care? BRICS contains the letter R and I for a reason.

21 hours ago, CharlieH said:

US President Donald Trump's new tariffs on more than 90 countries have officially come into effect

And so it begins as signs of self-inflicted wounds to US economy already appearing as companies and consumers braced for further impact of the regressive taxes on the consumers. The American Empire is dying under Trump, said Richard Wolff. 

21 minutes ago, Purdey said:

Not sure why India should not import cheap oil (wherever they can get it) while the USA imports approximately 6.28 million barrels annually. Sure, someone wants Russia dead but why should others care? BRICS contains the letter R and I for a reason.

Stopping the funding of Putin's murderous invasion of Ukraine is the reason.

Which India is knows it is funding.........

 

No. They're only going to hit one country. In many different ways already becoming apparent. But it's what they all voted for or couldn't care less enough about to vote against.