U.S. President Donald Trump has signed a sweeping executive order imposing revised tariffs ranging from 10% to 50% on 69 countries, dramatically reshaping global trade ahead of the August 1 deadline for finalizing bilateral agreements. Among the most notable outcomes, India will continue to face a 25% tariff, while Pakistan and Bangladesh secured significantly lower rates—19% and 20% respectively—after concluding successful negotiations with Washington.
Trump’s order, framed as part of his broader push for reciprocal trade and national security alignment, raises duties on several major economies. Syria faces the steepest rate at 41%, followed closely by Switzerland at 39%, and Canada at 35% on fentanyl-related goods. Trump accused Canada of “failing to cooperate” in controlling fentanyl flows into the U.S., despite its status as the second-largest U.S. trading partner. The exemption for Canadian and Mexican goods under the USMCA remains in place, though specific items like metals and autos remain subject to higher levies.
Mexico avoided a 30% blanket tariff on most non-automotive goods through a last-minute phone call between Trump and Mexican President Claudia Sheinbaum. While the country was granted a 90-day reprieve on general tariffs, it will still face a 50% duty on steel, aluminum, and copper, and 25% on autos and goods that fall outside of USMCA compliance. Trump claimed in a Truth Social post that Mexico also agreed to immediately terminate its non-tariff trade barriers, though no further details were provided.
Brazil was hit with a 50% tariff, a move widely seen as retaliation for the ongoing legal action against former President Jair Bolsonaro, a close ally of Trump. However, the blow was softened by sparing key Brazilian sectors like aircraft, energy, and orange juice.
South Korea, in contrast, secured a more favorable outcome. The country agreed to a 15% tariff on exports, down from a threatened 25%, in exchange for a commitment to invest $350 billion into U.S.-approved projects. Meanwhile, countries like Taiwan, Vietnam, Malaysia, and Sri Lanka received rates ranging from 19% to 20%, roughly aligned with previous expectations and ongoing trade dialogues.
India’s 25% tariff outcome was framed as a setback, especially when compared to regional competitors. Talks reportedly broke down over U.S. demands for greater access to India’s agricultural markets and lingering concerns about India’s discounted oil imports from Russia. The unresolved issues triggered a strong reaction from the Indian opposition and contributed to a fall in the rupee.
In contrast, Bangladesh received praise from Nobel laureate Muhammad Yunus, the country’s interim Chief Adviser, for what he described as a landmark trade victory. Yunus applauded Bangladesh’s negotiators for securing a 20% tariff rate—on par with apparel competitors like Sri Lanka, Vietnam, and Indonesia—and avoiding a threatened 35% reciprocal tariff. He said the agreement preserves Bangladesh’s export competitiveness while aligning with national interests, including food security, through targeted agricultural imports from the U.S. Dr. Khalilur Rahman, Bangladesh’s National Security Advisor and lead negotiator, emphasized that the deal protects millions of jobs in the apparel sector and deepens goodwill with American farming states.
The U.S. administration said further trade deals are forthcoming. An official noted, “We have some deals… but I don’t want to get ahead of the President in announcing them.”
As global markets brace for the impact, observers say these sweeping tariffs will not only affect economic growth in the targeted nations but could also invite retaliation and WTO scrutiny. The list of countries and their new reciprocal tariffs was formally released, covering most global regions. For example, European Union goods with a Column 1 duty rate under 15% will face an adjusted tariff, while those above 15% are exempt. Countries like Laos and Myanmar face tariffs of 40%, while New Zealand, Norway, and the UK are at 10% to 15%.
The decisions have added urgency to ongoing negotiations with China, which faces an August 12 deadline to finalize a broader trade agreement with the U.S. to avoid further punitive measures. Preliminary deals reached earlier in the year aimed to halt the tit-for-tat escalation that disrupted rare earth and technology supply chains between the two economic giants.
Trump’s latest trade moves mark a continued strategy of aggressive tariff diplomacy, rewarding countries that align with U.S. terms and punishing those that fall short—reshaping alliances, markets, and global economic flows in the process.