Trump tariffs: Full list of countries hit by US president’s new trade war levies
Alexander Butler looks at which country got hit with what tariff:
Oliver O’Connell1 August 2025 19:00
Watch: Sen. John Kennedy says job market is ‘softening’
Oliver O’Connell1 August 2025 18:47
Trump’s tariffs: Asian allies blindsided by steep new levies
Donald Trump’s latest tariff hikes have hit Asian countries the hardest, signalling a deepening rift with key economies in his drive to reshape global commerce.
The hardened position of the US towards longstanding partners such as India and Japan could reshape strategic alignments in Asia, casting doubt on the reliability of Washington as an ally.
Oliver O’Connell1 August 2025 18:40
Foreign leaders ‘ringing Trump’s phone’ to cut tariff deals, claim White House
The White House says foreign leaders are “ringing Donald Trump’s phone” to negotiate trade deals after the US president announced a new wave of levies for over 90 countries. On Thursday (31 July), Mr Trump announced a huge series of “reciprocal tariffs” ranging from 10% to 40% just hours before the original Friday (1 August) deadline. Speaking at The White Office, Press Secretary Karoline Leavitt said: “I know foreign leaders are ringing his phone and realising that this deadline is a real thing for them so they’re bringing offers to the table.” Most of the announced tariffs will not go into effect until 7 August, except for 35% tariffs on Canada, which begin from 1 August.
Oliver O’Connell1 August 2025 18:20
ANALYSIS: Trump’s tariff day is here but if TACO’s on the menu, the charade is over
Donald Trump’s tariff deadline is here, and now, the bill is due — and Trump has a choice before him: enforce the levies against the nation’s trading partners or TACO (Trump Always Chickens Out).
As Wednesday morning dawned in DC, the president seemingly indicated that his days of “pauses” were over. In a Truth Social post, Trump declared: “THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE — IT STANDS STRONG, AND WILL NOT BE EXTENDED.”
Yet, at the same time, he undermined that message.
Oliver O’Connell1 August 2025 18:00
Wall Street: Stocks remain under pressure as markets slide on tariffs and jobs data
Wall Street’s main indexes led a global selloff on Friday, as the imposition of new U.S. tariffs on numerous trading partners, combined with a weaker-than-expected payrolls report, weighed heavily on investor sentiment.
Just hours before a tariff deadline, President Donald Trump signed an executive order imposing duties on U.S. imports from countries including Canada, Brazil, India, and Taiwan, even as nations scrambled to secure more favourable trade agreements.
Labor Department data revealed that U.S. job growth slowed more significantly than anticipated in July, with previous months’ reports also undergoing sharp downward revisions, signaling a notable moderation in the job market.
Kevin Gordon, senior investment strategist at Charles Schwab, commented: “Everybody’s quite shocked at how large the downward revisions were for both May and June. The upside is that the unemployment rate did not spike meaningfully.”
This report subsequently boosted expectations for a September interest rate cut, with the CME’s FedWatch tool indicating an 80.0% probability. Trump has been pressuring Federal Reserve Chair Jerome Powell to lower rates for months, and now the conditions may be right.
BeiChen Lin, senior investment strategist at Russell Investments, added that recent job growth has been largely confined to previously understaffed sectors such as healthcare and social assistance, noting: “The breadth of job creation has steadily declined in recent months.”
By 12:30 p.m. in New York, the Dow Jones Industrial Average had fallen 455 points, or 1.03 per cent, to 43,671, after a slight recovery from its opening lows. The S&P 500 had shed 80.74 points, or 1.27 percent, to 6,259, while the Nasdaq Composite was down 368.13 points, or 1.74 percent, at 20,755.
Both the S&P 500 and the Nasdaq were on track for their worst single-day performance since 21 April.
With reporting from Reuters
Oliver O’Connell1 August 2025 17:39
Anti-Trump MeidasTouch dethrones mighty Joe Rogan as top podcast in US
Brace yourselves, Joe Rogan has been dethroned as America’s number one podcaster on YouTube by a staunchly anti-MAGA, “pro-democracy” show.
Here’s James Liddell with the details:
Oliver O’Connell1 August 2025 17:21
Americans say US economy getting worse under Trump’s leadership
On Thursday night, Trump signed an executive order that sets new tariffs on U.S. trading partners that are due to go into effect on August 7. Canada is one of the countries hardest hit, facing an increased rate of 35 percent.
However, while Trump has been gung-ho on threatening other nations with stiffer levies, it would seem voters are not so convinced it is the right approach.
John Bowden reports from Washington, D.C.
Oliver O’Connell1 August 2025 17:00
Trump told NBC new tariffs going ‘very well, very smooth’ hours before deadline
Donald Trump declared his sweeping new import tariffs were progressing “very well, very smooth” on Thursday night, asserting it was now “too late” for global trading partners to avoid the impending rates.
Speaking to NBC News just hours before his self-imposed midnight deadline for trade deals, he formalized the new tariff structure via executive order, which is set to take effect next week.
However, he maintained an openness to future negotiations, stating: “It doesn’t mean that somebody doesn’t come along in four weeks and say we can make some kind of a deal.”
The executive order officially cemented agreements with key trading partners, including the European Union, Japan, South Korea, the United Kingdom, and the Philippines.
For nations that failed to reach a deal, the order unilaterally set new rates, effective as of August 7. Switzerland, for instance, faces a higher-than-threatened 39 percent tariff, while Taiwan’s rate was set lower at 20 percent.
Trump boasted of the substantial revenue already generated, citing Treasury Department figures of $26 billion in June alone, and predicted a far greater influx.
“We will be taking in hundreds of billions of dollars, and very quickly,” he claimed. When questioned about potential price spikes for imported goods, he dismissed concerns, retorting: “The only price that’s spiked is the hundreds of billions of dollars coming in.”
He also indicated a willingness for further discussions with Canada, mentioning he might speak to Prime Minister Mark Carney later that evening, though no new deal would be struck before the deadline.
Separately, Trump said he was unfamiliar with Brazilian President Luiz Inácio Lula da Silva’s recent interview in The New York Times, which suggested Brazil would push back on the U.S. tariff program.
Informed of its content, he responded: “That’s OK. But he doesn’t have to do business with the United States, which is fine with me.”
Oliver O’Connell1 August 2025 16:45
Watch: Former Treasury secretary says Trump’s tariffs make U.S. similar to Perón’s Argentina
Former Treasury Secretary Larry Summers says President Donald Trump’s tariffs and economic chaos are shifting the global view of America.
He argues that the zeitgeist around the U.S. is moving from that of a stable superpower to something closer to Juan Perón’s Argentina — protectionism, denying the independence of the central bank, fiscal irresponsibility, breakdown of boundaries between government and business, cronyism, authoritarianism, lack of respect for the judiciary — which Summers says, while sometimes popular, is “extremely costly for society.”
Here’s what he told the All-In Podcast:
Oliver O’Connell1 August 2025 16:40