In the latest episode of the Tariff wars, President Trump has escalated the stakes by imposing sweeping new duties on imports from 69 countries as of August 1, 2025. Now ranging between 10% and 50%, these are some of the highest tariffs in the U.S. since the 1930s. The most prominent ally that will be affected is Canada, with the tariff rate reaching as high as 35%.
But it is Brazil that will be facing an even higher tariff rate at 50% and this is primarily due to Donald Trump’s gripe with the country over how his ally, the former president of Brazil, Jair Bolsonaro, is being prosecuted. Similarly, countries like Japan, the EU, South Korea, and the Philippines are facing 15-19% tariffs, despite ongoing negotiations with quite a few, with even the deal signing with the EU.
What is most important to know, however, is that it is the U.S. citizens who will face the impact, and it is being felt already, as prices of many goods rise. Another area that will be impacted by the tariffs is the manufacturing sector in the U.S, where analysts estimate that tariffs can increase the cost of manufacturing by 4.5%, something that Trump wouldn’t have wanted. Similarly, it is yet to be seen when big economies like Japan, India, and Brazil will sign trade deals with the U.S. and at what cost.