Trump sets new tariff rates as deadline nears
New tariff rates for South Korea, Brazil and India announced


What happened
President Donald Trump Wednesday announced new tariff rates for South Korea, Brazil and India ahead of his self-imposed Friday deadline for trade deals. He also imposed a 50% tax on the import of copper products and ended an exemption for direct-to-consumer imports worth less than $800.
Citing the economic and inflationary risks of Trump's tariffs, the Federal Reserve Wednesday declined to lower interest rates and cast doubt on expected rate cuts in September.
Who said what
Wednesday's "flurry of trade activity" began with Trump announcing a 25% tax on imports from India plus an added "penalty" for New Delhi's war-funding purchase of Russian oil, The Associated Press said. Shortly after, Trump "slapped a 50% tariff on most Brazilian goods to fight what he has called a 'witch hunt' against former President Jair Bolsonaro," Reuters said, though he "softened the blow by excluding sectors such as aircraft, energy and orange juice," but not coffee or beef. Wednesday evening, Trump said South Korea had agreed to a 15% tariff, down from the 25% it faced under the "reciprocal" tariffs he unveiled in April.
The best thing for the economy would be for Trump to "finish his trade deals with the world so companies can finally figure out how to adjust their supply chains and what their future costs will be," The Wall Street Journal said in an editorial. But that "may be a forlorn hope," given that Trump "views tariffs as an all-purpose diplomatic tool. (See his 50% tariff on Brazil because it is prosecuting his friend.)"
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What next?
Following Wednesday's "dizzying series" of trade moves, the White House confirmed that Trump plans to sign executive orders today sharply raising tariffs on dozens of countries that have not reached deals, Politico said. And "unlike with his previous tariff deadlines, the White House insists Trump will follow through this time." As a result of the higher tariff costs, The Washington Post said, American consumers — whose "outlook on the economy" is already "the worst it has been in years" — will "see some household staples get pricier in the coming days."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The new Stratus Covid strain – and why it’s on the rise
The Explainer ‘No evidence’ new variant is more dangerous or that vaccines won’t work against it, say UK health experts
-
‘Nightmare bacteria’ are rapidly spreading
Under the radar The infections are largely resistant to antibiotics
-
Crossword: October 1, 2025
The Week's daily crossword
-
YouTube to pay Trump $22M over Jan. 6 expulsion
Speed Read The president accused the company of censorship following the suspension of accounts post-Capitol riot
-
‘Used correctly, the drug is safe’
Instant Opinion Opinion, comment and editorials of the day
-
Shutdown: Democrats stand firm, at a cost
Feature With Trump refusing to negotiate, Democrats’ fight over health care could push the government toward a shutdown
-
TikTok: A little help from Trump’s friends
Feature Trump’s new TikTok deal would hand the app over to 'his billionaire allies,' ignoring national security concerns
-
Trump promotes an unproven Tylenol-autism link
Feature Trump gave baseless advice to pregnant women, claiming Tylenol causes autism in children
-
Trump: Demanding the prosecution of his political foes
Feature Trump orders Pam Bondi to ‘act fast’ and prosecute James Comey, Letitia James, and Adam Schiff
-
Why do farmers hate Trump’s Argentina bailout?
Today's Big Question Trump’s support for Argentina has ‘heightened tensions’ among farmers already frustrated by the impact of tariffs
-
Oregon sues to stop Trump military deployment
Speed Read The president wants to send the National Guard into Portland