Trump Unleashes Global Tariff Blitz Ahead of Trade Deadline

U.S. President Donald Trump has imposed steep new tariffs on dozens of countries, escalating his efforts to reshape global trade:

• Tariff Rates:
  
  • Canada: 35%
    
  • Brazil: 50%
    
  • India: 25%
    
  • Taiwan: 20%
    
  • Switzerland: 39%
    
  • All others: 10% baseline
    
• Canada & Mexico:
  
  • Canada criticized for fentanyl flows; faces increased tariffs.
    
  • Mexico got a 90-day reprieve after a call between Trump and President Claudia Sheinbaum.
    
• India:
  
  • Hit with 25% duties amid disputes over agriculture and Russian oil ties.
    
  • Triggered backlash and a drop in the rupee.
    
• Global Reaction:
  
  • Some trade deals are still in the works.
    
  • Federal judges are questioning Trump’s legal basis under emergency powers.
    
  • Consumer prices in the U.S. are rising  –  household goods, clothing, and vehicles are getting costlier.
    
• What’s Next:
  
  • More tariffs take effect in 7 days.
    

China faces an August 12 deadline to reach a long-term deal or risk renewed escalation.