What tariffs has Trump announced and why?

July 31, 2025

President Donald Trump is implementing new tariffs on imports from several key trading partners effective August 1, 2024, as part of his broader international trade policy initiated since returning to office in January. He argues these tariffs will boost American manufacturing, protect jobs, and reduce the U.S. trade deficit, despite critics suggesting they have thrown the world economy into chaos. The tariffs vary by country, with the EU facing 15% tariffs, Canada 35%, Mexico 30%, and the UK negotiating the lowest rate at 10%, while ongoing negotiations with China could see rates exceed 100% after August 12.

Who is affected

U.S. consumers facing higher prices on imported goods
American companies that import foreign goods or components
Global stock markets and investors experiencing volatility
International trading partners subject to tariffs (EU, China, Canada, Mexico, UK, and others)
Major companies like Adidas, Nike, and Mattel that are raising prices
U.S. pension holders and those affected by market changes
Traders at border crossings experiencing delays due to tighter customs checks

What action is being taken

New U.S. tariffs covering goods from key trading partners are being implemented on August 1
Different tariff rates are being applied to different countries (EU 15%, Canada 35%, Mexico 30%, UK 10%)
The U.S. and EU have negotiated a deal where European goods face 15% tariffs while certain U.S. products receive 0% duty
U.S.-Chinese trade negotiations are ongoing as a temporary tariff reduction period ends August 12
Companies are raising prices for U.S. consumers to offset tariff costs
Customs is conducting tighter checks at U.S. borders

Why it matters

The tariffs are causing global economic volatility and uncertainty
The IMF and OECD have downgraded predictions for global economic growth due to these tariffs
U.S. inflation is rising as businesses pass higher costs to consumers
Major companies are projecting significant cost increases (Nike estimates $1 billion in additional costs)
The U.S. dollar's value has fallen sharply at times
These measures are affecting international trade relationships and agreements
The policies are controversial even within Trump's own Republican Party

What's next

No explicit next steps stated in the article

Read full article from source: BBC