Trump sets new tariff rates to take effect Aug. 7
President Trump’s latest tariff plan places duties above the 10% universal tariff rate on imports from about 40 countries.
On April 2, 2025, Trump placed a baseline 10% tariff on all goods being imported to the U.S. from other countries, as well as 25% tariff on all imported automobiles. At that time, Trump also placed reciprocal tariffs above 10% on imports from countries he said placed higher tariffs on U.S. products.
Those tariffs were initially scheduled to take effect April 9, 2025, and then postponed until Aug. 1, 2025. In a White House fact sheet released July 31, Trump said that effective Thursday, Aug. 7, the universal 10% tariff rate will remain, with tariffs of 15% or more set on countries that run a significant trade deficit with the U.S.
Some of these higher tariffs have already been put into effect through trade deals or presidential orders, such as a new 50% tariff on Brazilian imports and 35% on Canadian imports, as well as a 15% duty on imports from the European Union.
Mexico was not included among the countries targeted for reciprocal tariffs initially placed on April 2, since it already had a 25% rate imposed on its goods, but will have a potential increase to 30% delayed for 90 days to allow further negotiations to take place.
[READ MORE: Trump's tariffs on Canada, China, Mexico take effect — countries respond]
In addition, most China tariffs placed separately by Trump have also since been paused until mid-August as the two countries attempt to negotiate a trade deal. Trump also reached an agreement in May with U.K. Prime Minister Keir Starmer that will increase U.S. access to U.K. markets while limiting tariffs on U.K. imports.
Some notable U.S. trading partners facing tariff rates higher than 10% as of Aug. 7 include:
- South Africa: 30%
- India: 25%
- Taiwan: 20%
- Israel: 15%
- Japan: 15%
- South Korea: 15%
See a full list on CNN.
In an official statement, David French, executive VP of government relations at the National Retail Federation, said the NRF would like to see markets truly opened by lowering tariffs, as opposed to raising them.
"Tariffs are taxes paid by U.S. importers and are eventually passed along to U.S. consumers," French said in the statement. "These higher tariffs will hurt Americans, including consumers, retailers and their employees, and manufacturers, because the direct result of tariffs will be higher prices, decreased hiring, fewer capital expenditures and slower innovation."
French went to say that retailers have been able to "hold the line" on pricing so far, but the new tariffs will impact merchandise in the coming weeks.
"We have heard directly from small retailers who are concerned about their ability to stay in business in the face of these unsustainable tariff rates," said French.
