Billions of dollars flowing into US: Donald Trump after sweeping new tariffs take effect

United States President Donald Trump on Thursday celebrated the official rollout of his wide-ranging new tariffs, targeting imports from more than 90 countries. In a late-night post on Truth Social, just as the higher tariff rates came into effect, Trump said: “It’s midnight!!! Billions of dollars in tariffs are now flowing into the United States of America!”

The new tariffs, ranging from 10 per cent to 50 per cent, officially began at 12:01 am on August 7, when US Customs and Border Protection started collecting the revised rates.

Trump described the moment as a turning point in US trade policy, claiming that revenues were largely coming from nations that had “taken advantage of the United States for many years, laughing all the way.”

“The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail!” he added in another post.

The rollout followed a week of uncertainty after Trump delayed implementation of most tariffs just hours before an earlier August 1 deadline. According to the New York Post, Treasury Secretary Scott Bessent projected that annual tariff revenues could exceed USD 300 billion.

Some countries are seeing steep penalties, while Brazil and India face tariffs as high as 50 per cent. Trump framed Brazil’s hike as retaliation for the prosecution of his political ally, former President Jair Bolsonaro. India was targeted over its continued purchase of Russian oil, with Trump initially threatening a 25 per cent tariff before increasing it to 50 per cent.

However, not all US trade partners faced equal treatment. Eight major countries, including Japan, South Korea, and the EU, secured negotiated reductions to 15 per cent. The UK received a 10 per cent rate, while Vietnam, Indonesia, Pakistan, and the Philippines saw duties adjusted to around 19–20 per cent.

Trump has also hinted at using tariffs as leverage in future trade showdowns, particularly with China, where an August 12 deadline looms for a possible agreement. Without a deal, tariffs on Chinese goods could rise to a staggering 245 per cent.

While the administration sees the tariffs as a tool to “reset the global trading order,” economists warn of broader market disruptions and potential cost increases for American consumers.

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