Trump Imposes Global Tariffs, Alters Rates, Delays Start

President Donald Trump announced an executive order imposing new tariffs on dozens of countries, set to take effect on August 7, with rates varying based on trade deficits and agreements. While some nations, such as Malaysia, welcomed tariff reductions as a significant achievement, others including Canada and Switzerland expressed disappointment and regret, criticizing the increased tariffs and citing ongoing disputes over issues like fentanyl trafficking and trade deficits. South Africa plans to use the delay in tariffs to negotiate terms to avoid penalties and preserve jobs, and uncertainty remains over tariffs on Japanese cars and transshipments. Despite some new trade deals, many countries and businesses face uncertainty, with concerns about higher costs and price increases. The U.S.-China trade situation remains unresolved ahead of an August 12 deadline, as negotiations continue. Trump also extended trade talks with Mexico for 90 days, while the legal basis for the tariffs faces skepticism from appellate courts.