U.S. President Donald Trump has announced the enforcement of sweeping new tariffs, with billions of dollars in duties now in effect following a midnight deadline in Washington, D.C.
“IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” Trump wrote on social media, signalling the start of the revised trade policy rollout.
Meanwhile, the U.S. has imposed a 50% tariff on Indian goods, which will take effect from August 27 unless India halts its purchase of Russian oil. The announcement follows mounting tensions over energy alliances and trade imbalances.
Trump also threatened a 100% tariff on foreign-manufactured computer chips, in a bid to ramp up pressure on global tech firms to relocate production to U.S. soil. The push appears to be yielding results, with Apple announcing a fresh $100 billion investment in the United States amid White House calls to shift more of its operations domestically.
Recall that last week, the Trump administration unveiled a revised list of import taxes targeting dozens of countries and extended a final negotiation deadline to August 7.
The objective is to force trading partners to agree to what Trump calls reciprocal tariffs, a recalibration of trade terms he claims will benefit American workers and industries.
