As the United States’ new round of reciprocal tariffs officially takes effect, countries across the globe are now facing steep import duties—some reaching as high as 104%. Despite early talks, no country has successfully secured a formal exemption from the newly imposed US tariffs.
Baseline and escalated tariffs in come into action
President Donald Trump’s tariff policy includes a baseline 10% duty on nearly all US trading partners, which came into force last Saturday. However, escalated tariffs ranging from 11% to 50% were activated at midnight for approximately 60 countries. These rates are calculated based on trade imbalances, reciprocal treatment, and national security considerations.
Who pays how much? Key country-wise tariff breakdown
China: Up to 104%, combining a new 34% tariff with earlier rounds and potential future hikes.
India: Now faces a 26% tariff on its exports to the US.
European Union: 20% tariff imposed.
Japan: Tariff set at 24%.
South Korea: Hit with 25%.
Taiwan: Facing a steep 32%.
Vietnam: Penalised with a 46% duty.
Madagascar: Now at 47%.
Lesotho: A massive 50% tariff, despite low trade volume.
New Zealand: 10% tariff; the government has declared it will not retaliate.
| Cambodia | 49% |
| Sri Lanka | 44% |
| Myanmar | 44% |
| Mauritius | 40% |
| Iraq | 39% |
| Guyana | 38% |
| Bangladesh | 37% |
| Serbia | 37% |
| Thailand | 36% |
| Switzerland | 31% |
| Pakistan | 29% |
| Tunisia, Kazakhstan | ~28-30% |
| Philippines, Israel | ~17% |
| Malaysia, Brunei | ~24% |
| Brazil, UK, Australia, UAE | 10% |
| Costa Rica | 10% |
| Ecuador, Trinidad & Tobago | 10–12% |
The sharp increase in tariffs has sparked concern among economists and market analysts, many of whom are warning of a potential recession if the trade war intensifies. Stock markets globally have responded with volatility, reflecting investor anxiety over prolonged economic uncertainty.
Negotiations ongoing, but no deals yet
US Trade Representative Jamieson Greer confirmed that around 50 countries have approached Washington seeking relief from the sweeping tariffs. However, no agreements have been finalised. The Trump administration insists that any trade deals must ensure “fair and reciprocal” terms for American workers and industries.