President Donald Trump has signed a new executive order imposing sweeping tariffs on imports from nearly 70 countries, escalating his administration’s trade agenda ahead of the 2026 election. The order, signed on Thursday, July 31, mandates reciprocal tariffs ranging between 10 and 41 percent, depending on each country’s trading relationship with the United States.
According to the White House, the tariffs—set to take effect on August 7—are part of a broader effort to “rebalance” America’s global trade posture and protect U.S. manufacturers from what Trump calls “decades of unfair foreign competition.” The new rates are described as “reciprocal,” meaning they mirror or exceed the tariffs those countries place on American goods.
The White House described Trump’s use of tariffs as a strong and essential strategy to prioritize American interests, arguing that long-standing trade deficits, deemed harmful to both the U.S. economy and national security—must be addressed.
Canada was the first to feel the brunt of the order, with a 35 percent tariff kicking in immediately on August 1. The Trump administration cited concerns over fentanyl trafficking, trade imbalances, and a breakdown in bilateral negotiations on border security.
India has been slapped with a 25 percent tariff, one of the more moderate levels in the new structure, but enough to draw a strong reaction from New Delhi. “We are reviewing the situation and will take all necessary steps to protect India’s economic interests,” a government spokesperson said.
Other countries hit with steep rates include Switzerland (39%), South Africa (30%), and Taiwan (20%). However, a few nations—such as Cambodia, Bangladesh, and Pakistan—received more favorable treatment, with their tariffs capped at 19 percent after weeks of behind-the-scenes diplomacy.
Mexico was granted a 90-day grace period as trade talks continue. The administration warned that if no agreement is reached by the deadline, a 30 percent tariff will be enforced.
African countries including Nigeria, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Uganda, Zambia, and Zimbabwe were slammed with 15 percent tariff.
Markets reacted cautiously to the news. U.S. stock futures dipped, while Asian and European markets saw modest declines amid fears of a renewed trade war. Economists warned that the measures could drive up consumer prices, disrupt global supply chains, and invite retaliatory tariffs from affected nations.
As the August 7 deadline approaches, affected countries are scrambling to respond. While some governments have signaled a willingness to renegotiate trade terms to avoid the tariffs, others are preparing countermeasures.
