Trump's hellish tariffs come into effect

On August 7, increased tariffs on goods imported into the US from dozens of countries around the world came into effect after several weeks of delays and hasty negotiations with trading partners, Reuters reports.

US Customs began charging higher tariffs at the start of the day.

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Tariff rates range from a minimum of 10% to 50%, depending on the country and agreements.

Eight major US trading partners managed to agree on framework agreements, in particular the EU, Japan, and South Korea, which managed to reduce the base tariff to 15%.

Britain managed to negotiate 10%.

India, Brazil, and Switzerland were hit the hardest.

On Wednesday, Trump imposed an additional 25% tariff on India for importing Russian energy resources.

Photo: screenshot.

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