#TrumpTariffs $XRP U.S. Announces Major Tariff Overhaul

On July 31, 2025, President Trump signed an executive order imposing sweeping “reciprocal” tariffs on nearly 69 countries, with rates ranging from 10% to 41%. The new duties will take effect on August 7.

Countries not explicitly listed will face a baseline 10% tariff.

Key targeted rates:

Canada: raised from 25% to 35%

Brazil: up to 50% total

India: 25%

Taiwan: 20%

Switzerland: ~39%

Impact on Prices & Consumers

According to Yale’s Budget Lab, the overall effective U.S. tariff rate will reach approximately 18.3%, the highest level since 1934. After consumer response, it’s expected to stabilize around 17.3%.

The July 2025 tariff policy is projected to raise household prices by ~1.8%, translating to an average annual income loss of about $2,400 per household.