US President Donald Trump’s new tariffs officially came into effect after midnight on August 7. Just before the deadline, he posted on Truth Social: “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!”

India Gets an Ultimatum Over Russian Oil

Earlier, Trump had announced a 50% tariff on Indian exports, warning that it will start on August 27 if India does not stop buying oil from Russia. This move has added tension to already strained trade relations.

Pressure on Tech Sector Increases

At the same time, Trump has increased pressure on the technology industry. He threatened to impose a 100% tariff on imported computer chips. In response, major tech companies have started taking action.

Apple Responds with Major US Investment

Facing growing pressure, Apple announced a $100 billion investment to boost its production inside the US. This decision appears to be a direct reply to Trump’s call for bringing manufacturing back home.

Trump Defends Tariff Policy

Trump said the new tariffs would bring in large amounts of money from countries that have “taken advantage” of the US. He added, “The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail!”

Over 70 Countries Now Face Higher Duties

Last week, Trump signed executive orders to apply tariffs on products from around 70 countries. These duties vary between 10% and higher rates, especially for Laos, Myanmar, and Syria.

US Allies Avoid Harsh Tariffs

While tensions rise, some countries have managed to avoid heavy penalties. The UK, Japan, and South Korea successfully negotiated lower tariffs. These deals aim to protect their exports and keep trade stable with Washington.

EU Reaches a Compromise

The European Union also made progress. It agreed with the US on a 15% tariff on EU goods. This move helps maintain economic cooperation while avoiding higher duties.

Taiwan Seeks a Better Deal

In Asia, Taiwan faces a 20% tariff on its exports. However, Taiwanese President Lai Ching-te called the rate “temporary” and confirmed that talks with the US are ongoing.

Meanwhile, Canada has taken a hit. Trump raised tariffs on Canadian goods from 25% to 35%. He accused Canada of failing to stop fentanyl and drug smuggling. This step has increased tensions between the two close neighbors.