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15h ago

U.S. Raises Average Import Tariff to 15% as Swiss and South African Duties Take Effect

Global partners have launched talks, issued job-loss alerts, extended credit relief in response to Washington’s sweeping tariff hikes.

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Contenedores comerciales en un depósito en Johannesburgo, Sudáfrica, el 1 de agosto del 2025. (AP foto/Themba Hadebe)
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Trump dice que anunciará aranceles a los semiconductores la próxima semana

Overview

  • As of August 5, the U.S. imposed an average 15% import tariff under Sections 232, 301 and 122, including 39% on Swiss goods and 30% on South African exports.
  • Financial markets reacted sharply: the S&P 500 posted its worst session since April, the VIX climbed to May levels and two-year Treasury yields tumbled on renewed Fed rate-cut expectations.
  • South Africa warns roughly 30,000 jobs are at risk and has launched a mitigation plan, while Switzerland has opened emergency talks to renegotiate its 39% tariff.
  • India accused the U.S. and EU of hypocrisy for trading with Russia while pressuring New Delhi over Russian oil imports and signaled it may raise duties on U.S. goods.
  • Canada expressed disappointment over its tariff increase to 35%, Moody’s forecasted near-zero GDP growth for Mexico, and Brazil is offering public credit relief to exporters rather than pursuing retaliatory levies.