US President Donald Trump announced reciprocal tariffs as the 1st August deadline ended, sticking to the 25% tariff on India. The “additional penalties” linked to India’s business with Russia remain unclear.

Pakistan, after signing a deal with the US, will face a 19% tariff, while Bangladesh’s rate has been cut from 35% to 20%. Pakistan earlier had a 29% tariff in April.

The new tariffs will take effect on 7th August, giving the customs department time to update its systems.

The US will also impose a 20% tariff on Taiwan, 19% tariffs on Cambodia and Thailand, a 30% tariff on South Africa, 15% tariffs on Turkey, Israel, and South Korea, and a 39% tariff on Switzerland, which led to a drop in the Swiss Franc.

Canada’s tariff was raised to 35% from 25% after it recognised Palestine as an independent state, though USMCA-compliant goods are exempt.

In total, imports from about 40 countries will face a 15% tariff. In contrast, roughly a dozen others will see higher duties due to trade deals or unilateral orders targeting nations with large trade surpluses with the US.

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