Trump’s new tariffs on dozens of countries take effect

August 7, 2025

President Donald Trump began levying higher import taxes on dozens of countries Thursday, as the economic fallout of his months-long tariff threats has begun to create headwinds for the U.S. economy.

Just after midnight, goods from more than 60 countries and the European Union became subject to tariff rates of 10 per cent or higher. Products from the European Union, Japan and South Korea are taxed at 15 per cent, while imports from Taiwan, Vietnam and Bangladesh are taxed at 20 per cent.

Please visit this link for more information: https://www.cbc.ca/news/world/global-tariffs-white-house-1.7603010

Please visit this link for a full list of countries and current U.S. tariff rates

Topic(s)

Hot topics

U.S. Tariffs and Canadian Retaliatory Surtax

Security and Trade Facilitation Programs

International Trade and Border Management

Information source

Canadian News Channel

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The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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