00:00U.S. President Donald Trump announces new tariffs of up to 41% on goods imported from dozens of
00:06countries. Citing emergency powers, Trump's new higher tariffs of 10 to 50% on many trading
00:12partners take effect on Thursday, August 7. This move is meant to reduce the U.S. trade deficit,
00:18but it also risks causing problems like global supply chain issues,
00:21rising prices, and possible pushback from other countries.
00:24The U.S. Customs and Border Protection Agency began collecting higher tariffs after weeks
00:29of suspense over Trump's final tariff rates and frantic negotiations with major trading partners
00:34that sought to lower them. Trump says on Truth Social just ahead of the deadline,
00:38quote, billions of dollars, largely from countries that have taken advantage of the United States
00:43for many years. Laughing all the way, we'll start flowing into the USA. Trump slapped some countries
00:49with much higher rates, including 50% for goods from Brazil, 39% from Switzerland, 35% from Canada,
00:56and 25% from India. Britain won a 10% rate, while Vietnam, Indonesia, Pakistan and the Philippines
01:03secured rate reductions of 19 or 20%.
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