Washington, D.C. — A sweeping wave of U.S. tariffs championed by President Donald Trump has officially taken effect, targeting imports from more than 90 countries in a dramatic push to rebalance America’s global trade relationships.

Just minutes before the deadline for international trade negotiations passed, Trump took to his Truth Social platform, announcing that billions in revenue were already “pouring into the U.S.” from the newly enforced import duties.

Trump’s aggressive use of tariffs is a strategic move aimed at reviving domestic manufacturing and job creation, while also advancing several of his core political and economic objectives.

India, Tech, and Tariff Threats
In a separate move on Wednesday, Trump warned that tariffs on imports from India could rise to 50% unless the country curbs its purchases of Russian oil. In addition, he floated a potential 100% tariff on foreign-made semiconductors, a decision he says would drive tech companies to reinvest in American soil.

These actions fall under a broader doctrine of reshaping international trade norms, which Trump has long criticized as unfair to the U.S. One of his administration’s top priorities since returning to the White House in January has been to slash the U.S. trade deficit—the gap between imports and exports.

Under the current structure, the tariffs impose a tax on American importers buying foreign goods. These businesses often pass the increased costs on to consumers, potentially raising prices on everyday items.

Global Impact and Economic Reactions
Critics have accused the former president of disrupting the global economic order in recent months. However, financial markets appear to be adjusting. On Thursday, Asian stock indexes showed resilience—with Japan, Hong Kong, South Korea, and mainland China seeing slight gains. Markets in India and Australia edged lower.

The new tariff structure is the most significant in nearly a century. It includes sector-specific levies across industries like automobiles, steel, and technology. The rollout was initially announced in April but faced delays amid market volatility and diplomatic negotiations.

Countries had until August 7 to strike bilateral agreements with the U.S. or face full tariff implementation. The finalized structure is a complex patchwork, with tailored rates for different nations, some of which were revised multiple times by the Trump administration.

Who’s Paying the Price?
Export-driven Southeast Asian countries have been hit hard. Laos and Myanmar, both heavily reliant on manufacturing, now face tariffs as high as 40%. Analysts believe many of the affected countries have close economic ties with China, a longtime focus of Trump’s trade war efforts.

Yet, despite months of uncertainty, some experts view the finalized tariffs as a stabilizing force.

“This may finally bring clarity to global markets,” said Bert Hofman, an economist at the National University of Singapore. “With the framework now in place, we can begin to measure the true impact.”

Winners, Losers, and Ongoing Talks
Some major U.S. allies successfully negotiated lower rates. The United Kingdom, Japan, and South Korea secured favorable trade deals, reducing their exposure to Trump’s harshest tariffs.

The European Union reached a broader framework agreement, accepting a 15% tariff across its member states. In contrast, Switzerland—which failed to reach a deal—faces a punishing 39% rate, prompting an emergency government meeting on Thursday.

Meanwhile, Taiwan, a crucial U.S. partner in Asia, was levied a 20% tariff. However, President Lai Ching-te assured the public that the rate is “temporary” and part of ongoing negotiations with Washington.

Magnum Magazine continues to monitor how these sweeping trade shifts are affecting economies and industries worldwide. Stay tuned for exclusive insights into how global leaders are responding to a rapidly evolving economic landscape.