Overview

• Trump argued that reciprocal tariffs bolster U.S. manufacturing and protect jobs as he unveiled the dividend proposal.
• The 90-day moratorium, which set a 10% baseline tariff, expired on August 1 and paved the way for revenue distribution.
• Secured exemptions include deals with the United Kingdom, European Union, South Korea, Japan, Indonesia and Pakistan.
• India faces a 25% levy on its exports after failing to secure a deal, while Russia remains under threat of penalties on oil and arms.
• Critics caution the tariff campaign has disrupted global supply chains, rattled stock markets and driven up consumer prices.