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The U.S. is set to impose sweeping new tariffs on exports from dozens of countries starting August 7, following President Donald Trump’s executive order aimed at addressing trade deficits and alleged unfair practices. While some countries, like the EU, secured reduced tariffs—15% after a deal with Commission President Ursula von der Leyen—others face steep hikes. Brazil will face 50% tariffs, Canada 35% (up from 25% due to fentanyl concerns), Switzerland 39%, India 25%, and Taiwan 20%. Many nations now face economic uncertainty as negotiations remain unresolved.
Friday, 1 August, 2025
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