New Global Tariffs Imposed by Trump Impact Over 60 Countries
President Donald Trump’s extensive new tariff regime officially came into effect on August 7, 2025. The regime imposes duties of 10% or higher on goods imported from over 60 countries, including the European Union. According to trade analysts, these tariffs represent the most significant U.S. protectionist trade action since the 1930s.
The new measures introduce an additional 25% tariff on India for purchasing Russian oil. This increase brings their total import taxes to a staggering 50%. Other countries such as Japan and South Korea are also facing 25% tariffs. However, Myanmar and Laos have been hit the hardest, receiving the highest rates at 40%. Trump clarified that these rates would be “separate from all Sectoral Tariffs”, indicating they won’t be added to existing duties.
Despite months of delays and negotiations, the tariff implementation has finally taken place. Trump has been using the threat of higher duties as leverage to pressure trading partners. Despite the economic concerns this has raised, the stock market has shown resilience. The S&P 500 has climbed more than 25% from its April low as investors eagerly await the full economic impact.