Customs duties for 70 countries entered into force at midnight, after a four-time hold in 4 months — The chaotic period of large declarations and clamoring Trump posts on fact Social. planet leaders raced Washington trying to halt measures that could harm businesses in their countries and slow the global economy.
Customs duties, ranging from 10 to 50% for almost all country in the world, are intended to encourage companies to increase production in the United States while bringing billions of customs gross to aid pay public debt. Different rates depend at least in part from how much the President's anger has attracted the governments of these countries.
This decision is the culmination of Trump's extraordinary efforts to a distortion of the position quo in global trade. This is an effort to shift the free marketplace economy of the United States towards a protectionist approach, which imposes on the countries for a "privileged" sale to Americans. Trump has been complaining for decades that the United States has been "defrauded" by its trading partners.
President's Euphoria
"JEST NORTH!!! MILLIONS OF DUTIES WITH THE DULE ARE NOW GOING TO THE STATES OF UNITED AMERICA!” wrote Trump on the fact Social platform erstwhile the clock struck midnight.
“The customs tariffs are coming to the US at a level that was not even thought possible!” he continued on Thursday morning.
— I do not anticipate any real interference," said manager of the National economical Council Kevin Hassett at Fox Business Network on Wednesday. — I think they will ready to enforce the tariffs imposed by the president on the first day. And that's actually 1 of the reasons why we didn't start them last week to make certain that [...] everything is fine.
Companies study rising expenditure
And there's more to come. Trump is inactive negotiating. with China, Mexico and another large countries. He besides committed to imposing duties on various industries, including pharmaceutical, semiconductor and wood. At the same time, he utilized customs tariffs as a threat to bend countries to his will, including 50 % work on Brazilian goods in connection with the treatment of erstwhile president Jair Bolsonaro and the 50% work on India for the acquisition of Russian oil.
Customs duties appear when American economy shows signs of over-extress by existing 10% global tariffs, 25% taxation on cars and car parts and 50% taxation on imports of steel and aluminium. While GDP increased by 3% in the April-June quarter, The Labour statistic Office published last Friday a weak employment study in July, and inflation increased as companies began shifting customs costs to consumers.
Large American companies besides study rising customs spending. Ford said last week he paid $800 million in customs in the second quarter, and this year he could pay up to $3 billion in total. . General Motors reported $1.1 billion of customs in the second 4th and said that commercial friction could cost a car maker between $4 and $5 billion in 2025.
The maker of dense equipment Caterpillar warned this week that rising duties could cost him $1.5 billion this year. Apple's CEO, Tim Cook, who was in the White home on Wednesday to announce an additional $100 billion investment in the US, said the company had paid $800 million in customs in the last 4th and in this 4th it would gotta pay another $1.1 billion.
The White home pointed to over 136 billion dollars that it has already raised in customs revenue, as well as agreements with many trading partners on lowering customs barriers and investing billions in the US, as evidence that Trump's approach works.
However, nearly 7 months after he took office no increase in employment in manufacturing industry, which remains unchanged at 12.7 million workers. The increased customs gross besides represents just over 7% of the national government's budget deficit of 1.9 trillion dollars projected in fiscal year 2025.
A survey published this week by the National abroad Trade Council, a business group, showed that companies are increasingly forced to hold or limit the offer of products and services in view of the expanding costs and supply challenges.
PAP/EP/BONNIE CASH / Pool / Pool / PoolDonald Trump, president of the United States, and Tim Cook, president of Apple, in the Oval Office. Washington, August 6, 2025.
Administration besides shows little compassion for companies complaining of higher tariff costs and disruptions in the supply chain.
— erstwhile we hear that companies gotta make hard choices about changes in the supply chain, we gotta do so," said Jamieson Greer, U.S. Sales Representative, on Sunday in the CBS programme "Face the Nation". - I mean, status quowhere we inactive produce things abroad, due to the fact that we can do it a small cheaper in the short term. This is no better than having these investments and jobs here in the United States..
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