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Trumps sweeping new tariffs take effect - ABC News Show more President Donald Trump’s sweeping new tariffs finally took effect on Thursday, slapping levies on dozens of countries and risking price increases for a host of everyday goods
President Trump Announces New Reciprocal Tariffs Set to Take Effect . . . On July 31, 2025, President Trump issued an executive order detailing new reciprocal tariff rates for individual countries and stating they will take effect at 12:01 a m EST seven days from the date of the order (i e , August 7, 2025) The new reciprocal tariff rates, listed in Annex I to the Order, range between 10 and 41 percent, with imports from Laos, Myanmar (Burma), Switzerland, and