Trump’s Tariffs Start To Take Effect

15 Aug Trump’s Tariffs Start To Take Effect

The raft of tariffs announced by US President Trump have now started to take effect. Impacting over 90 countries, below is an overview of some of the rates as of the 7th of August 2025, as well as the status of ongoing negotiations:

• India: 50%
• Brazil: 50%
• Canada: 35%
• China: 30%
• South Africa: 30%
• Mexico: 25%
• Vietnam: 20%
• Japan: 15%
• South Korea: 15%
• New Zealand 15%
• United Kingdom: 10%
• Australia: 10%

In addition, specific goods tariffs include: a 50% tariff on steel, aluminium and copper imports, as well as a 25% tariff on foreign-made cars and imported engines and other car parts.

It is worthwhile noting that the 50% tariff that is to apply to Indian goods, has increased from the initial 25% rate because of Delhi’s purchases of Russian oil. This higher tariff rate is due to take effect from the 27th of August.

Ongoing negotiations
Negotiations continue between the USA and several nations, with Mexico receiving a reprieve from the proposed 35% tariff, remaining steady at 30% for another 90 days. Conversely, Canadian exports to America are now subject to a 35% tariff. However, most goods across these nations are exempt under the US-Mexico-Canada trade agreement.

Tariff negotiations are still underway between China and the USA, following Trump’s latest deadline extension of another 90 days, announced on the 12th August.

In addition, Trump has threatened to impose a 200% tariff on pharmaceutical imports, but no further details have been confirmed.

The tariff announcements have caused volatility on global stock markets and resulted in a fall in the value of the US dollar. Analysts are currently seeing the tariffs feed into the overall US inflation rate as businesses start to pass on some or all the higher costs to consumers. This has resulted in a price rise of 2.7% across goods such as clothing, coffee, toys and appliances, in the year to June, which is up from 2.4% the previous month.

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