President Donald Trump has escalated U.S. trade policy by enacting a sweeping wave of new tariffs on dozens of countries, marking what some analysts consider the most substantial shift in global trade dynamics in nearly a century. The tariffs follow months of negotiations and limited trade agreements, with only the deals with China and the United Kingdom formally finalized. The new policy increases tariffs from a previous minimum of 10% to rates as high as 50% on some countries, including Brazil, India, and Iraq. In total, more than 60 countries face elevated tariffs, with some goods subject to multiple layers of penalties.

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These tariffs vary by country and product, with notable exemptions including smartphones and some pharmaceuticals. Goods using at least 20% U.S. materials may also qualify for reduced rates. Although many of the trade agreements Trump announced are still preliminary, they generally include commitments to purchase American goods and invest in U.S. industries. Meanwhile, tariffs on imports from countries like Canada and Mexico depend on compliance with the USMCA trade agreement. While many of the new tariffs are already effective, goods in transit before the policy change have until early October to benefit from previous rates. Trump has hinted at future tariffs on semiconductors and lumber, and while legal challenges could threaten these measures, the administration still holds significant authority to pursue its trade agenda.

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Visit this CNN article for a helpful chart on the specific tariffs for each importing country.

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