Trump unleashes global tariff reset, targets dozens of nations
Under the new regime, India will face a 25 per cent tariff, while Bangladesh (20 per cent), Vietnam (20 per cent), Indonesia (19 per cent), and Turkiye (15 per cent) are also among the affected countries. The European Union is subject to a variable rate: for products with current US duty rates below 15 per cent, the tariff will be adjusted to make up the difference to reach 15 per cent; goods above that threshold will remain unchanged.
To prevent circumvention, transhipped goods will now face a 40 per cent duty, and the US Customs and Border Protection (CBP) will publish a list of known transhipment sites biannually to inform future enforcement and procurement decisions.
US President Donald Trump has imposed sweeping reciprocal tariffs on dozens of countries, effective August 7. India faces a 25 per cent rate, with Bangladesh and Vietnam taxed 20 per cent. The EU gets variable rates, and transhipped goods face a 40 per cent duty. The move, under emergency trade powers, targets nations unwilling to negotiate or align with US economic and security interests.
The new White House executive order is issued under powers granted by the International Emergency Economic Powers Act and the Trade Act of 1974. These changes follow April's Executive Order 14257, which declared a national emergency over chronic US goods trade deficits.
The updated action targets countries that, according to the administration, have either refused to negotiate, offered inadequate terms, or failed to align with US economic and security interests. Countries that have reached—or are close to finalising—agreements with the US will continue to be assessed provisional tariffs until those deals are concluded.
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