In a move likely to escalate global trade tensions, U.S. President Donald Trump has signed a new executive order revising import tariffs on goods from 70 countries, including India, Pakistan, and Bangladesh. The revised rates are set to take effect from August 7, with India facing a 25% tariff—one of the highest among its regional peers.
According to the order, Pakistan will face a 19% tariff, Bangladesh 20%, Afghanistan 15%, Sri Lanka 20%, and Indonesia 19%. Notably, Myanmar faces the steepest hike at 40%, while Japan and South Korea will see tariffs of 15%.
The order, issued under Executive Order 14257, cites a “national emergency” as the reason for the imposition of additional ad valorem duties. Trump claimed he had received new intelligence justifying these changes, calling them “necessary and appropriate” to protect U.S. national interests.
Some countries will face even higher duties than India, including:
- Syria (41%)
- Laos (40%)
- Switzerland (39%)
- Iraq and Serbia (35%)
- South Africa (30%)
- Libya (30%)
Others like the UK (10%), Taiwan (20%), and Vietnam (20%) face relatively lower tariff rates compared to India.
The order specifies that goods already in transit before August 7 and arriving in the U.S. before October 5, 2025, will continue to be taxed at the previous rates.
Reacting to the development, market analyst Ajay Bagga commented, “Trump has rolled out dozens of unilateral tariff impositions… Markets are not happy. From the U.S. to Europe to Asia, disarray is posing as policy, and cracks are beginning to appear. It’s time to hunker down.”
The move comes amid a volatile global economic climate and could worsen trade relationships as well as market sentiment across continents.