Trump’s latest blitz triggered a wave of market jitters and fears for jobs in some of the poorest countries, as tariff rates were signed off ranging from 50% to 10%. The new rates, which Trump sees as benefiting US exporters, create uncertainty for dozens of countries, including longtime US allies. The deadline for a tariff deal with Mexico was extended by another 90 days. The EU’s 15% tariff rate as a single all-inclusive rate was confirmed in the executive order. For goods already in transit or warehoused for consumption before 8 August, the previous tariff rate (10% + MFN rate) will apply until 5 October 2025.

Source: The Guardian August 02, 2025 14:30 UTC