On "T-Day," the US began enforcing Trump's new tariffs, raising average rates from 2% to 15% after a 90-day pause allowed some countries to negotiate reduced deals while others, like India and Brazil, faced hikes. These tariffs have generated over $150 billion in revenue by July, impacting various sectors and aiming to address trade imbalances.
Breakdown
- US customs officials begin enforcing new tariffs on nearly all trading partners.
- Average US tariff rate rises from 2 percent to 15 percent. 1m 27s
- Some countries, like the UK and EU, secure lower rates through new deals; others, such as India and Brazil, face higher tariffs. 45s
- Sector-specific duties imposed on industries including automobiles, metals, and pharmaceuticals. 1m 38s
- US businesses and consumers brace for higher prices as customs revenues nearly double. 1m 45s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.