Duties for 70 countries entered into force at midnight, after four times in four months – the chaotic period of great declarations and the flashy posts of Trump on Truth Social. World leaders raced with Washington, trying to stop the funds that could harm companies in their countries and slow down the global economy.
Customs – ranging from 10 to 50 percent For almost every country in the world – they are to make companies to increase production in the US, while bringing billions of revenues from customs duties that will help pay off public debt. Different rates depend At least partly from how much the rule of these countries attracted the President's anger.
This move is the culmination of Trump's extraordinary efforts aimed at Disruption of status quo in global trade. It is an attempt to postpone the US free market economy towards a protectiveist approach, which burdens countries for the “privilege” of sales to Americans. Trump has been complaining for decades that the United States had been “deceived” by their trading partners.
President's euphoria
“There are north !!! billions of dollars from duties now go to the United States of America!” Trump wrote on the Truth Social platform when the clock struck the north.
“Customs tariffs are coming to the USA at a level that was not even thought to be possible!” He continued on Thursday morning.
– I do not expect any real disturbances – said on Wednesday the director of the National Economic Council Kevin Hassett at Fox Business Network. – I think [służby celne i ochrona granic] will be ready to enforce tariffs applied by the president on the first day. And this is actually one of the reasons why we did not start them last week to make sure that […] Everything is fine.
Companies report growing expenses
And even more awaits us. Trump is still negotiating with China, Mexico and other large countries. He also undertook to impose duties on various industries, including pharmaceutical, semiconductors and wood. At the same time, he used customs tariffs as threats to bend the countries to his will, including a 50 % duty for Brazilian goods in connection with the treatment of former President Jaira Bolsonaro and a 50 % duty for India for the purchase of Russian oil.
Duties appear when The American economy shows signs of strain By existing 10 % global customs tariffs, a 25 % car and car parts tax as well as a 50 % tax on steel and aluminum imports. While GDP increased by 3 percent. In the quarter of Kwiecień-Czerwiec, the work statistics office published a poor employment report last Friday, and inflation increased because companies began to transfer customs costs to consumers.
Large American companies also report growing expenses for duties. Ford said last week that he paid $ 800 million. [ok. 2,9 mld zł] customs duties in the second quarter, and this year can pay a total of $ 3 billion. [ok. 11 mld zł]. General Motors announced $ 1.1 billion. [ok. 40 mld zł] customs duties in the second quarter and said that trade friction can cost a car manufacturer from $ 4 to 5 billion. [od 14,6 do 18,3 mld zł] in 2025
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The manufacturer of heavy equipment Caterpillar warned this week that the growing duties can cost it $ 1.5 billion this year. [ok. 5,5 mld zł]. The General Director of Apple, Tim Cook – which was in the White House on Wednesday to announce an additional $ 100 billion. [ok. 365 mld zł] investments in the USA – he said that the company paid $ 800 million. [ok. 2,9 mld zł] customs duties in the last quarter, and in this quarter will have to pay another $ 1.1 billion. [ok. 40 mld zł].
The White House pointed to over USD 136 billion. [ok. 500 mld zł]which he has already collected in the revenues from customs duties, as well as on agreements with many trade partners regarding the reduction of customs barriers and investing billions in the USA, as proof that Trump's approach works.
However, almost seven months after he took the office There was no increase in employment in the production industrywhich remains at an unchanged level of 12.7 million employees. Increased duties revenues also constitute just over 7 percent. budget deficit of the federal government in the amount of $ 1.9 trillion. [ok. 7 bln zł] expected in the fiscal year 2025.
The survey published this week by the National Foreign Trade Council, a business group, showed that Companies are increasingly forced to delay or limit the offer of products and services due to the growing costs and challenges related to supply.
Donald Trump, US president, and Tim Cook, president of Apple, in the oval office. Washington, August 6, 2025PAP / EPA / BONNIE Cash / Pool / Pool / Pool
The administration also shows Little compassion for companies complaining about higher tariff costs and disturbances in the supply chain.
– When we hear that companies must make difficult choices regarding changes in the supply chain, [i tak] We have to do it – said Jamieson Greer, USA representative in CBS “Face the National” on Sunday. – I mean status quoin which we still produce things abroad, because we can do it a bit cheaper in a short period. It is not better than having these investments and employment here in the United States.
I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.
