Trump's reciprocal tariffs hit over 90 countries

“It’s midnight! Billions of dollars in tariffs are now flowing into the United States of America!” Trump wrote on Truth Social.

“Reciprocal tariffs take effect at midnight tonight! Billions of dollars, largely from countries that have taken advantage of the United States for many years, laughing all the way, will start flowing into the USA,” he had said in a post yesterday.

The 25-per cent tariff on India was doubled yesterday by Trump to 50 per cent, with the additional 25 per cent kicking in after a 21-day window.

Goods into the United States saw a minimum 10 per cent tariff before today, but the rates vary for various countries now.

While the highest rates imposed are on goods from Brazil (50 per cent), Laos (40 per cent), Myanmar (40 per cent), Switzerland (39 per cent), Iraq (35 per cent) and Serbia (35 per cent), 21 countries face tariffs more than 15 per cent, including Vietnam (20 per cent), India (25 per cent), Taiwan (20 per cent) and Thailand (19 per cent).

The White House said that starting just after midnight that goods from more than 60 countries and the European Union would face tariff rates of 10 per cent or higher. Products from the European Union, Japan and South Korea will be taxed at 15 per cent, while imports from Taiwan, Vietnam and Bangladesh will be taxed at 20 per cent.

ALCHEMPro News Desk (DS)