Washington, August 22, 2025 (TPE News): President Donald Trump has announced a fresh wave of tariffs, escalating trade tensions with key global partners including the European Union, India, Australia, and the United Kingdom.

Under the revised policy, the U.S. has imposed a 15% tariff on most EU imports, including semiconductors and pharmaceuticals, while reducing automobile tariffs from 25% to 15% in exchange for EU concessions on U.S. goods.

In a more aggressive move, tariffs on Indian imports have doubled to 50%, sparking a diplomatic standoff. China has openly backed India, calling Washington’s tariff strategy “economic bullying.”

Australia will also feel the pinch as the U.S. ends its $800 de minimis exemption, meaning low-value goods will now face tariffs—raising costs for e-commerce exports.

Meanwhile, U.S. consumers are already facing price hikes, with Sony increasing PlayStation prices by $50 due to new electronics tariffs. U.K.-based JCB has also warned of hundreds of millions in losses from U.S. steel and machinery duties.

Economists caution that while tariffs have boosted U.S. revenues—crossing $29 billion in July alone—they may hurt long-term growth, consumer spending, and international relations.

With allies voicing concern and global markets reacting nervously, Trump’s tariff policy is now shaping up to be both an economic weapon and a geopolitical gamble.