US President Donald Trump said early Thursday that “billions of dollars in tariffs” were now flowing into the United States after his August 7 deadline for implementing new duties.
Taking to his Truth Social platform just after midnight, he posted, “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!”
As an executive order signed last week by Trump took effect, US duties rose from 10 per cent to levels between 15 per cent and 41 per cent for a list of trading partners.
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Many products from economies including the European Union, Japan, and South Korea now face a 15-per-cent tariff, even with deals struck with Washington to avert steeper threatened levies.
But others like India face a 25-per-cent duty — to be doubled in three weeks — while Syria, Myanmar, and Laos face staggering levels at either 40 per cent or 41 per cent.
AFP
