President Donald Trump’s extensive new tariffs on imports from over 90 countries have officially taken effect. Just before the deadline for trade negotiations ended, Trump posted on Truth Social, claiming the tariffs were already bringing billions into the U.S. economy. The tariffs are part of his broader strategy to revive American manufacturing and jobs.
He separately warned of a 50% tariff on Indian goods if the country continues to import oil from Russia, and threatened a 100% duty on foreign-made semiconductors to encourage domestic production. Trump’s approach aims to rebalance global trade, which he argues is unfair to the U.S., and to reduce the trade deficit.
The new tariffs were initially announced in April but delayed due to market instability. Southeast Asian nations like Laos and Myanmar face some of the steepest rates, while countries with strong China ties appear most impacted. Some economies, including the UK, Japan, and South Korea, reached partial deals to reduce their tariff exposure. India criticized the move as unjust, and Switzerland, facing a 39% rate, plans emergency discussions. Trump also raised tariffs on Canada and warned Mexico and Russia’s trade partners of further action.
