Trump Announces Sweeping New Global Tariffs

The USA was $951.2 billion (!) before Trump came into office. How can any American be okay with that especially since America has been getting taken advantage of. decades. The Democrats and their media lapdogs grouse about tariffs while pushing for higher taxes on Americans. Always plotting to hurt Americans.

What is notable is the number of skeptics and even outright critics of tariffs who have either shifted their opinion entirely or have at least modified their critique.

In June, the United States collected $27 billion dollars in tariff revenue on goods imported into the country. That number is expected to increase this month —we will know for sure in a few days. Hold on to those numbers for a bit while considering the context in which they appear….  President Trump also ran on upending the international trading system through the imposition of tariffs on almost every country doing business with the U.S. Skeptics of this set of claims were everywhere. June’s tariff receipts in the U.S. set a monthly record of $27 billion. July’s number is expected to increase. “[W]e could expect that that could be well over $300 billion by the end of the year,” Treasury Secretary Scott Bessent declared earlier in July. (By contrast, total tariff revenue for the U.S. was $77 billion in calendar year 2024.) Bessent added that he estimates tariff revenue to the Treasury to top “2.8 trillion over 10 years,” “which we think is probably low….” A decade ago the U.S. collected $35 billion in tariffs annually. That’s quite a contrast: $35 billion into the U.S. treasury from tariffs in 2015; $300 billion estimated in 2025 (Fox News).

BREAKING: President Trump just signed an order RAISING his reciprocal tariff on Canada from 25% to 35%, effective at midnight

This comes after Canadian PM Carney tried playing games on trade

FAFO, Canada! pic.twitter.com/a0caM6EgxY

— Nick Sortor (@nicksortor) July 31, 2025

Financial Times: Donald Trump has reimposed tariffs on dozens of trading partners as the US president pushed the world’s biggest economy into a new era of global trade competition. In an executive order published on Thursday evening, Trump adjusted the tariffs of many nations to match the levels he threatened in letters he had recently sent to them, while lowering rates for other countries to formalise recent deals (Financial Times).

From the new executive order released last night: I have determined that it is necessary and appropriate to deal with the national emergency declared in Executive Order 14257 by imposing additional ad valorem duties on goods of certain trading partners at the rates set forth in Annex I to this order… Included in the latest Executive Order is an Annex with a summary of reciprocal tariffs by nation. Switzerland, notably, is at 39 percent, while goods from the European Union is at either zero percent or 15 percent—depending on the category of goods (White House).

White House releases new tariff rates for dozens of countries after months of negotiations

By Samuel Chamberlain and Victor Nava, NY Pot, July 31, 2025:

The Trump administration released a revised list of tariff rates against nearly 70 countries set to take effect next week.

The announcement follows a four-month negotiating sprint with dozens of US trading partners to lock in one-for-one agreements — some of which are reflected in the new list.

Among the notable rates which will be charged at 12:01 a.m. Aug. 7 — rather than on the Friday deadline initially announced by the White House — are 15% for Iceland and Israel, 30% for South Africa, 39% for Switzerland and 20% for Taiwan and Vietnam.
President Trump speaking at a microphone. 5
The White House released a revised list of tariff rates against nearly 70 countries, including Brazil, Israel, and South Africa. REUTERS

Brazil, the largest economic power in South America, will see its rate balloon to 50% on Aug. 6, President Trump announced Wednesday.

The president previously threatened Vietnam with a 46% tariff in his April 2 “Liberation Day” announcement but the country was able to reach a tentative trade deal with the US earlier this month, which lowered its rate.

Israel’s new rate is 2 percentage points lower than the 17% duty unveiled in April — despite not having made a formal agreement with the White House.

Trump noted in his executive order modifying reciprocal rates Wednesday that some nations “have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States,” while others either have not tried to strike a deal or “despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters.”

The steepest tariff rates will be carried by Syria (41%), Laos and Myanmar (40%), Switzerland (39%) and Iraq and Serbia (35%).

The list also denotes a 35% rate on imports from Canada after Trump signed an order upping the current tariff by 10 percentage points.

Countries not listed in the announcement will be subject to a 10% tariff, according to the White House.
Traders working on the floor of the New York Stock Exchange. 5
In a statement, Trump said certain nations “have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States.” Getty Images

Trump had already locked up major agreements accounting for about one-third of American trade in the months leading up to Thursday’s order.

In Scotland over the weekend, the president secured a massive deal with the European Union, setting a 15% tariff for the EU in exchange for the 27-nation bloc agreeing to purchase $750 billion in US energy and investing $600 billion in the US.

Framework agreements calling for a 10% duty on the United Kingdom, a 19% levy for the Philippines and Indonesia, and a 15% levy on Japan and South Korea were also cut before the new rates were unveiled and ahead of Friday’s deadline.
President Donald Trump signing an executive order. 5
President Trump also noted that multiple countries have not agreed to trade deals yet with the United States. AP

“President Trump has reset decades of failed trade policy,” read a statement released by the White House.

“Today’s Order underscores President Trump’s commitment to take back America’s economic sovereignty by addressing the many nonreciprocal trade relationships that impact foreign relations, threaten our economic and national security, and disadvantage American workers.”

[…]

White House press secretary Karoline Leavitt told reporters earlier Thursday that more than 100 countries were still in negotiations with the administration and eager to lock in lower rates.

“Upwards of 200 countries around the world have reached out to their trade and tariff team,” Leavitt said, noting that the White House will continue to “prioritize” key trading partners.

She added that Trump’s team “has been working around the clock to try to be in correspondence with as many countries as possible.”