Trump's new tariffs take effect as trade war escalates
Briefly

Tariffs imposed by the Trump administration have benefitted certain U.S. industries, though businesses have been seeking clearer guidance for adjusting supply chains and pricing. Trade agreements reached with the European Union, Japan, South Korea, and the United Kingdom reflect the administration's strategy. Recent modifications to tariffs affected various countries differently, with a 10% rate on U.K. goods and a hefty 41% on Syria. Tariffs on Mexico were paused for 90 days, while tensions with China continue with an expiring truce. Brazil remains reluctant to engage in talks due to existing levies on exports.
The Trump administration imposed tariffs benefiting certain U.S. industries, while businesses waited for clarity to adapt their supply chains and pricing due to multiple deadline revisions.
The White House announced modifications to reciprocal tariffs, imposing 10% on U.K. goods and 41% on Syria, highlighting varying impacts based on country relations.
Trump on July 31 paused Mexico's 35% tariffs for 90 days, while a trade truce with China is set to expire on August 12.
Brazil's President Lula da Silva expressed reluctance to engage in trade talks with Trump, stating he won't humiliate himself amidst a 50% levy impacting coffee prices.
Read at Axios
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