U.S. President Donald Trump has announced a new set of tariffs on goods from dozens of countries, effective on or after August 8, 2025. The White House has released a detailed list of these “reciprocal tariffs” that are being imposed to address what the administration calls trade imbalances and unfair practices.
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- India: The U.S. will maintain a 25% tariff on imports from India. In a post on his social media platform, Truth Social, Trump also mentioned an “additional penalty” for India’s continued purchases of Russian oil and military equipment. The details of this penalty, however, have not been specified.
- Bangladesh: Tariffs on goods from Bangladesh have been lowered to 20%, a significant reduction from the previous 35%.
- Pakistan: The new tariff rate for Pakistan is 19%, down from a previous 29%.
- Canada: Tariffs on Canadian goods have been raised to 35% from 25%. This increase follows Canada’s decision to recognize Palestine as an independent state. Goods that comply with the U.S.-Mexico-Canada Agreement (USMCA) are exempt.
- Other Countries: The administration has also set new tariffs on a number of other nations:
- Switzerland: 39%
- South Africa: 30%
- Taiwan: 20%
- Cambodia: 19%
- Thailand: 19%
- Turkey: 15%
- Israel: 15%
- South Korea: 15%
Context and Reaction
U.S. Treasury Secretary Scott Bessent, in an interview with CNBC, said that the entire trade team is frustrated with India’s trade practices and its business dealings with China, which he stated make it “not a great global actor.”
The announcement of a 39% tariff on Switzerland has led to a fall in the Swiss Franc against the U.S. Dollar. In total, imports from about 40 countries will face a new 15% rate, while over a dozen economies’ products will be hit with even higher duties. These tariffs will take effect seven days from the date of the order, which is on or after 12:01 a.m. eastern daylight time on August 8, 2025.
