Trump Tariffs Live Updates: Canada Hit with 35% Duties, Trump Eyes Higher Baseline Rates (as of July 13, 2025)
President Donald Trump’s tariff offensive continues to escalate, with a fresh 35% levy on Canadian imports announced late last week, set to take effect August 1. This marks an increase from the prior 25% rate under the USMCA amid stalled trade talks. Trump has also floated raising the baseline “reciprocal” tariff—currently at 10% on most nations—to 15-20%, signaling broader protections. These moves, justified by trade deficits, national security, and issues like fentanyl flows, have rattled markets and prompted retaliatory threats. Below, I summarize the latest developments, timeline, affected countries, economic impacts, and reactions, based on reports up to today.
Key Developments
- Canada Tariffs: On July 10, Trump sent a letter to Canadian Prime Minister Mark Carney imposing a 35% tariff on most Canadian goods starting August 1, citing Ottawa’s retaliatory duties on U.S. steel/aluminum and alleged failures on border security and dairy trade.
Exemptions apply to USMCA-compliant goods (e.g., those meeting rules-of-origin), but the hike could affect $762 billion in annual bilateral trade.
- Higher Blanket Rates Floated: In a July 10 NBC News interview, Trump suggested increasing the 10% baseline tariff (imposed in April 2025) to 15-20% for most partners, aiming to “encircle” China and boost U.S. manufacturing.
This would override current rates for many nations without deals.
- Broader Escalation: Similar letters went to the EU and Mexico (30% each), and others like Brazil (50%). The August 1 deadline was extended from July 9 to allow negotiations, but Trump warned of no further pauses.
Timeline of Recent Events
Complete List of Announced Tariffs (Effective Aug. 1, Overriding 10% Baseline)
From recent announcements and social media compilations:
| Country/Region | Tariff Rate | Notes |
| Brazil 🇧🇷 | 50% | Highest rate, cited for trade imbalances. |
| Myanmar 🇲🇲, Laos 🇱🇦 | 40% | Focus on manufacturing and labor issues. |
| Cambodia 🇰🇭, Thailand 🇹🇭 | 36% | Textiles and electronics targeted. |
| Bangladesh 🇧🇩, Canada 🇨🇦, Serbia 🇷🇸 | 35% | Canada’s hike from 25%; exemptions possible. |
| Indonesia 🇮🇩 | 32% | Commodities like palm oil. |
| EU 🇪🇺, Mexico 🇲🇽, South Africa 🇿🇦, Bosnia 🇧🇦, Algeria 🇩🇿, Iraq 🇮🇶, Libya 🇱🇾, Sri Lanka 🇱🇰 | 30% | EU/Mexico letters issued July 12. |
| South Korea 🇰🇷, Kazakhstan 🇰🇿, Malaysia 🇲🇾, Moldova 🇲🇩, Tunisia 🇹🇳, Brunei 🇧🇳, Japan 🇯🇵 | 25% | Tech and autos for Korea/Japan. |
| Philippines 🇵🇭, Vietnam 🇻🇳 | 20% | Lower due to ongoing deals. |
| China 🇨🇳, Russia 🇷🇺 | 10% (base) | Higher specifics (e.g., 70% on some Chinese goods) apply separately. |
| India 🇮🇳 | 0% (pending) | Negotiations ongoing; no hike yet. |
Economic Impacts and Market Reactions
- Trade Disruptions: U.S.-Canada trade deficit ($63.3B in 2024) could widen costs; potential hits to autos, energy, and agriculture.
Global supply chains are strained, with Gulf markets down 0.2-0.8% today. - Markets: U.S. stocks fell Friday (Nasdaq -0.2%); Bitcoin surges as a hedge.
Analysts warn of inflation spikes and GDP drag.
- Canadian Boycott: Exports from U.S. down 40%, exceeding expectations; Canada exploring EU ties.
Stakeholder Reactions
- Canada: PM Carney calls it a “profound challenge,” vows exemptions and no ring-kissing; energy minister notes leverage in resources.
Provinces rally for unity.
- Trump Administration: Frames as reciprocal; advisor hints at exemptions if talks succeed.
- International: EU delays retaliation; Brazil “squares up.”
Social media highlights U.S. isolation risks.
- Business/Analysts: Warnings of chaos; some see Bitcoin unaffected.
Events are evolving rapidly—Canada-U.S. talks continue, with potential for adjustments before August 1. For real-time alerts, monitor official statements or X trends.
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