US Edition
Staggering US Tariffs Begin on NZ Goods as Trump Widens Trade War
UNITED STATES, AUG 7 – Tariffs on imports from over 90 countries raise average U.S. import tax to 18.6%, the highest since 1933, increasing costs for businesses and consumers, experts say.
- On Thursday, US President Donald Trump activated new levies, and many countries face tariffs that took effect at midnight in Washington.
- Unveiling reciprocal duties, Trump’s trade measures broadened, building on actions since his return, and aim to boost domestic manufacturing, the Republican administration said.
- Americans face import costs ranging from 10% to 50%, as the U.S. Commerce Department reported, and new tariffs came into effect at midnight in Washington.
- Supply chains began reacting almost immediately, with retailers and manufacturers warning higher levies will significantly raise costs, and prices starting to climb.
- In coming months, legal challenges are looming as the U.S. faces higher tariffs on Indian exports, with effects expected to intensify, Fitch Ratings said.
30 Articles
30 Articles
Here’s what the new tariffs could cost each US household
By ANNE D’INNOCENZIO and DEE-ANN DURBIN, AP Business Writers American businesses and consumers soon will have a better idea of how President Donald Trump’s foreign trade agenda might affect them now that the United States has imposed higher tariffs on products from dozens of countries. It’s been nearly 100 years since the nation had an overall import tax rate as high as the one set Thursday. But the individual impact on business costs and consum…
New Trump tariffs come into force worldwide
US President Donald Trump’s global tariffs kicked in, reshaping international commerce by instituting levies on imports from friend and foe alike. Though some US allies have secured lower rates than were initially threatened, and Washington’s three biggest trading partners — Canada, China, and Mexico — are still negotiating theirs, friendly nations such as India and Switzerland have been hammered. The protectionist move pushed the effective US t…
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