New tariffs imposed by U.S. President Donald Trump came into effect on Thursday. The new tariffs apply to imports from the European Union and dozens of other countries.
The White House stated that starting just after midnight, goods from over 60 countries and the European Union will encounter tariff rates of 10 percent or higher.
Products from the European Union, Japan, and South Korea are subjected to a tax of 15 percent, while imports from Taiwan, Vietnam, and Bangladesh are taxed at 20 percent, CBS News reported.
U.S. President Donald Trump anticipates that nations like the European Union, Japan, and South Korea will invest hundreds of billions of dollars into the United States.
“I think the growth is going to be unprecedented,” Trump remarked on Wednesday. He added that the U.S. was “taking in hundreds of billions of dollars in tariffs.” However, he was unable to provide a specific figure for the revenue generated by the tariff rates.
Despite the uncertainty, the White House remains confident that the initiation of its comprehensive tariffs will pave the way for the world’s largest economy.
Uniform application of 15 percent tariff
The new and varied tariffs encompass imports from approximately 70 countries, including 27 EU nations. The European Union has committed to making substantial investments in the U.S., in addition to accepting the 15 percent tariffs, although the exact terms and timing of those investments are still under negotiation.
Two key trading partners, China and Mexico, are facing different tariff schedules as negotiations are ongoing.
Meanwhile, Trump has threatened to impose additional tariffs on countries that engage with Russia or has already mandated such tariffs, asserting that these agreements indirectly support Russia’s war against Ukraine.Â
In addition to these developments, the European Union officially announced that the 15 percent tariff on its goods entering the United States applies uniformly across all products, including automobiles and automotive components, despite looming threats of higher tariffs beforehand. This 15 percent tariff regime is designed to generate tens of billions of dollars annually in revenue and is part of a broader effort to reduce the longstanding trade imbalance between the U.S. and Europe by encouraging local sourcing and reshoring production. According to a July 2025 fact sheet released by the White House and the European Commission, the EU has agreed to purchase $750 billion in U.S. energy products and invest $600 billion in the U.S. economy by 2028, marking one of the largest economic cooperation agreements in recent U.S.-EU trade history.
EU suspends countermeasures
Furthermore, the EU has temporarily suspended its own countermeasures against the U.S. tariffs, delaying planned retaliatory tariffs by six months to allow for ongoing trade negotiations to bear fruit. This suspension, announced in early August 2025, reflects the EU’s commitment to finding a negotiated resolution to the tariffs dispute, which has caused significant tension in transatlantic trade relations. The European Commission emphasized that this strategic pause aims to restore stability and predictability for businesses and consumers on both sides of the Atlantic.
Trade experts point out that despite the tariffs, the U.S.-Mexico-Canada Agreement (USMCA) still exempts many goods from new tariffs, but a 40 percent tariff is earmarked for goods diverted through third countries to evade duties. Meanwhile, the U.S. continues to target imports from countries like India with higher tariffs due to their purchases of Russian oil, highlighting how broader geopolitical issues are increasingly influencing trade policy. The International Trade Administration maintains a timeline tracking various retaliatory tariffs between the U.S. and its trading partners, illustrating how these measures have evolved as part of broader international trade tensions over the past decade.
