Trump Imposes Broad U.S. Tariffs on 60 Nations

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The United States has enacted a broad set of tariffs targeting more than 60 countries, in a move President Donald Trump says will support domestic manufacturing and level the global economic playing field. Effective Thursday, new tariff rates starting at 10% have been applied to a broad range of imports. Goods from the European Union, Japan, and South Korea are now subject to a 15% tariff, while imports from Taiwan, Vietnam, and Bangladesh face a 20% rate.

President Trump confirmed the changes during a Wednesday briefing, stating that the United States is “taking in hundreds of billions of dollars in tariffs,” though the full revenue impact remains under review. Trump also called for increased foreign investment, particularly from countries impacted by the new trade rules. “I think the growth is going to be unprecedented,” he said.

The administration maintains that  these actions will help restore the U.S. as a manufacturing hub and offer businesses a clear path forward after months of uncertainty.

However, recent economic data has revealed early signs of disruption. Following the initial round of tariffs introduced in April, analysts reported slower job growth, higher prices, and a decline in property values in several key U.S. regions. John Silvia, CEO of Dynamic Economic Strategy, noted that a drop in economic productivity is being reflected in real wages. “The economy has become less productive, and firms cannot pay the same real wages as before,” Silvia said in a recent analysis.

Although the full effects of the new trade structure may take time to emerge, economists expect a gradual shift rather than abrupt consequences. Brad Jensen, a professor at Georgetown University, compared the impact to “fine sand in the gears,” predicting a steady slowdown rather than a dramatic collapse.

Meanwhile, the trade deficit has continued to expand. For the first half of 2025, the U.S. trade imbalance reached $582.7 billion, a 38% increase compared to the same period in 2024. Some importers reportedly rushed to bring in goods ahead of the new tariff implementation, temporarily inflating the figures.

Despite projection of industrial revitalization, data shows a 2.9% decline in construction spending over the past year, and factory employment has not yet experienced the growth projected by the administration.

The tariffs represent a key component of Trump’s broader strategy to rebalance international trade relations and reduce America’s reliance on foreign goods.