New Tariffs Take Effect
President Trump’s new tariffs on more than 90 countries went into effect raising the average U.S. tariff rate to the highest levels in a century.
“BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” he declared on Truth Social. The new rates start at 10 percent but some – for countries such as Brazil and India – soar as high as 50 percent.
Further trade negotiations among several countries are expected to continue. Tariffs have settled right at the top of the range that seemed possible six months ago. Americans will now pay an average effective tariff of 19 percent on their imports. Few major trading partners have been spared the import taxes, which have already disrupted supply chains and are expected to drive up prices for Americans.
Source: “The Madison Weekly Market Wrap”, August 10, 2025.
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