As of August 7 (U.S. time), the first wave of President Donald Trump’s reciprocal tariffs on Indian goods has officially come into effect. Trump marked the moment with a celebratory post on Truth Social, writing in all caps: “It’s midnight!! Billions of dollars in tariffs are now flowing into the United States of America!”
Earlier, Trump had claimed these tariffs would generate massive revenue from countries that have, in his words, “taken advantage” of the U.S. for years. “The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail!” he added.
Last week, Trump signed executive orders announcing new tariff rates on nearly 70 countries, with duties ranging from 10% to much higher for nations like Laos, Myanmar, and Syria.
India was slapped with a 25% tariff last week, with Trump citing New Delhi’s high trade barriers and continued purchases of Russian oil and military gear. Days later, he doubled down with another 25% tariff on Indian imports, set to take effect on August 27.
Additionally, in a push to boost domestic manufacturing, Trump also announced a 100% tariff on imported semiconductors — exempting companies already producing or committing to produce in the U.S.