U.S. President Donald Trump has introduced a sweeping package of new tariffs on several major trading partners, intensifying pressure on global allies and adversaries alike as Washington’s self-imposed August 1 trade deadline approaches.
In a flurry of announcements less than 24 hours before the deadline, the White House revealed a flurry of new levies. South Korea narrowly avoided harsher penalties, securing a 15% tariff agreement—down from the 25% rate initially threatened. The move aligns Seoul’s trade terms with those previously granted to Japan and the European Union. President Trump added that South Korea would also invest a “large sum of money” into the U.S. economy, though no figures were disclosed.
In contrast, Brazil and India faced much steeper consequences. Trump confirmed a 50% tariff on Brazilian exports, citing political tensions surrounding far-right former president Jair Bolsonaro. While the tariff’s start date was pushed to August 6, it will exempt key Brazilian exports such as orange juice, iron ore, aircraft, and energy products.
Brazilian President Luiz Inacio Lula da Silva condemned the move, pledging to defend Brazil’s sovereignty amid what he called an unjustified American economic offensive.
India, too, saw new tariffs introduced. A 25% duty on Indian goods will take effect Friday after trade talks between Washington and New Delhi collapsed. Trump also warned of further penalties tied to India’s continued defense and energy cooperation with Russia.
“I don’t care what India does with Russia,” Trump posted on Truth Social. “They can take their dead economies down together.”
Canada also entered Trump’s crosshairs following Prime Minister Mark Carney’s announcement of plans to support Palestinian statehood at the United Nations General Assembly in September. Trump warned that such a move could severely complicate trade negotiations, writing, “That will make it very hard for us to make a Trade Deal with them.”
In addition to the country-specific actions, Trump signed an executive order to impose 50% tariffs on select copper products and ended tariff exemptions for low-value shipments. Notably, copper ores and cathodes were excluded from the new measures.
Commerce Secretary Howard Lutnick said deals had been struck with Cambodia and Thailand, though no details were provided.
While Trump has promised these tariffs will boost domestic manufacturing and government revenue, economists caution they could drive up inflation and weigh on consumer spending. According to a Yale University study, U.S. consumers now face the highest average effective tariff rate since the 1930s.
Despite concerns from markets and industry groups, Trump insisted the August 1 deadline “will not be extended,” declaring on Truth Social: “This is a big day for America.”
