US tariffs against 92 countries were introduced at 6:01 a.m. Italian time, just after midnight in Washington. The pendulum swings from 10% for the United Kingdom to 50% for India and Brazil .
And on August 7th, Donald Trump wrote in all-caps on his social media account: "It's midnight!!! Billions of dollars in tariffs are flowing into the United States of America." Shortly before, he had written: "Reciprocal tariffs will go into effect at midnight tonight. Billions of dollars, largely from countries that have profited from the United States for many years, laughing at it in every way, will begin flowing into the US. The only thing that can stop America's greatness would be a radical left-wing court that wants to see our country fail."
The European Union applies 15% tariffs to almost all products, except steel and aluminum, for which the rate is 50% . Negotiations are ongoing to define various products beyond the basic agreement. EU sources describe these negotiations as "exhausting," and in which Europe is seeking exemptions for its flagship exports (and those of Italy and Sardinia), the agri-food and wine sectors .
Canada will find itself dealing with a 35% tariff, and Switzerland's fate is even more bitter, with a 39% tariff . The countries most "punished," with 50%, are Brazil and India: the former for the "ferocious" trial against former President Bolsonaro, the latter for its complicity with Moscow.
(Unioneonline)