Trump Smashes the World Economy with Higher Tariffs on Deadline Day
Published / Last Updated on 01/08/2025
Today, President Trump has announced new tariff levels and updated rates are below, with hopes of a deal with China (currently 30%) before all tariff rates take effect on 7th August 2025. (Image source: x.com/whitehouse).
Tariff Rates at at 01/08/2025
| United Kingdom | 10% |
| Falkland Islands | 10% |
| Brazil | 10% |
| Japan | 15% |
| Angola | 15% |
| Botswana | 15% |
| Chad | 15% |
| Côte D`Ivoire | 15% |
| Ecuador | 15% |
| Fiji | 15% |
| Guyana | 15% |
| Israel | 15% |
| Lesotho | 15% |
| Madagascar | 15% |
| Mauritius | 15% |
| Namibia | 15% |
| New Zealand | 15% |
| North Macedonia | 15% |
| Papua New Guinea | 15% |
| Trinidad And Tobago | 15% |
| Uganda | 15% |
| Venezuela | 15% |
| Zimbabwe | 15% |
| European Union | 15% |
| Afghanistan | 15% |
| Bolivia | 15% |
| Cameroon | 15% |
| Costa Rica | 15% |
| Dem. Rep. Of The Congo | 15% |
| Equatorial Guinea | 15% |
| Ghana | 15% |
| Iceland | 15% |
| Jordan | 15% |
| Liechtenstein | 15% |
| Malawi | 15% |
| Mozambique | 15% |
| Nauru | 15% |
| Nigeria | 15% |
| Norway | 15% |
| South Korea | 15% |
| Turkey | 15% |
| Vanuatu | 15% |
| Zambia | 15% |
| Nicaragua | 18% |
| Indonesia | 19% |
| Malaysia | 19% |
| Philippines | 19% |
| Cambodia | 19% |
| Pakistan | 19% |
| Thailand | 19% |
| Bangladesh | 20% |
| Taiwan | 20% |
| Sri Lanka | 20% |
| Vietnam | 20% |
| Mexico | 25% |
| Brunei | 25% |
| Moldova | 25% |
| India | 25% |
| Kazakhstan | 25% |
| Tunisia | 25% |
| Algeria | 30% |
| Libya | 30% |
| Bosnia And Herzegovina | 30% |
| South Africa | 30% |
| Canada | 35% |
| Serbia | 35% |
| Iraq | 35% |
| Switzerland | 39% |
| Laos | 40% |
| Syria | 41% |
Comment
Ultimately, this will drive prices up for US consumers but equally it will encourage them to ‘buy American’, eventually growing the economy. In the short term, it means higher inflation, which will hurt the consumer purse, but it will devalue the USA’s massive government debt. This is a big gamble by the US government, but we can see the logic behind it.