The global trading system is being badly affected, while US Customs has started collecting duties between 10 and 50 percent** on new imports since 12 midnight.
Economists say that these new tariffs imposed by the Trump administration are at the highest level in the last 100 years. Its impact is not only on the US and its trading partners but also on global supply chains, international prices and investment trends.
US Customs has imposed new tariffs between 10 and 50 percent on imports since August 8, the most important industrial and technology products are affected, American companies have also come under pressure from this decision, ■ India and Russian oil 25 percent additional tariff, the total rate reached 50 percent
India is among the countries most affected by the new tariffs. The Trump administration, reacting strongly to India’s purchase of Russian oil, imposed another 25 percent tariff on August 6, bringing the total tariff rate on India to 50 percent. This decision was made at a time when countries like India and Brazil were negotiating with the United States for tariff relief.
Indian Prime Minister Narendra Modi and Brazilian President Lula da Silva rejected US pressure and said they would not compromise on their economic interests. Following their stance, Washington tightened its grip and increased the tariff rate. According to the report, Pakistan and Vietnam are among the few countries that the Trump administration has given partial tariff relief. Trade with these countries will continue under soft terms on certain products, so that the United States has access to the Asian market.
Several countries, including the European Union, China, Canada, and Japan, have expressed concern over Trump’s unexpected and aggressive move. Several countries that support free trade under the WTO (World Trade Organization) have called the decision a violation of international law.
Under the leadership of Donald Trump, the United States appears to be returning once again to the “America First” policy, under which only domestic interests are being prioritized while ignoring international agreements and trade regulations. But experts are warning that these policies could ultimately prove detrimental to the American economy itself.