The new round of “mutual” tariffs introduced by President Trump officially began to take effect on Thursday morning.
“It’s midnight!!! Billions in tariffs are coming into the United States,” the President announced. He also mentioned that he had written about it just before midnight, calling it a “true society.”
In another early post, Trump stated that “taxes are flowing into the U.S. at a rate that isn’t seen as impossible!” This was part of his ongoing commentary on the tariffs.
Last week, the President signed an executive order announcing these additional tariff fees, pushing back the implementation date by about a week. For now, most imports are subject to a 10% tariff.
Some countries face much steeper rates: Syria has a 41% import tax, while Laos is at 40% and Switzerland at 39%. Indonesia and Thailand are looking at 19%, and Japan, South Korea, and the European Union are facing 15% tariffs.
On Wednesday, Trump also raised tariffs on goods entering the U.S. from India, following New Delhi’s purchase of Russian oil. This was after special envoy Steve Witkov met with Russian President Vladimir Putin as the U.S. continues its push for peace in the ongoing war in Ukraine.
India is set to experience a 50% tariff rate, which will take effect in three weeks.
Later that day, Trump remarked on social media that “billions of dollars” would flow into the U.S. from countries that have “utilized” Washington’s policies.
“The only thing that can hinder American greatness is the radical left court that seeks to see our country fail,” he added in a separate post.
The President initially proposed his “liberation day” tariff plan on April 2 but then extended it for an additional 90 days shortly after, aiming to stabilize financial markets and pressure Wall Street and GOP lawmakers. This deadline was pushed to August 1, culminating in Thursday’s rollout.
Items already en route to the U.S. are exempt from these new import fees, along with those covered by the US-Mexico-Canada Agreement from 2020.
It’s worth noting that starting August 29, the De Minimis product exemption will end, meaning that commercially shipped items valued under $800 will no longer be exempt from import fees.
