Trump Announces Sharp Tariff Increases on South Korea, India, and Brazil

On July 30 local time, former U.S. President Donald Trump announced significant tariff increases aimed at key trading nations. New duties include a 15% tariff on goods from South Korea, a 25% levy on Indian exports coupled with additional trade penalties, and an extra 40% duty on Brazilian imports—raising the overall tariff rate on Brazilian goods to 50%.

Additionally, effective August 1, the United States will impose a 50% tariff on a wide array of semi-finished copper imports. This includes copper rods, plates, tubes, wires, and pipes, as well as derivatives heavily reliant on copper content such as cables, connectors, fittings, and electrical components.

A report from China Central Television (CCTV) noted that Trump confirmed a "comprehensive and complete" trade agreement with South Korea. Under the accord, South Korea is set to invest $350 billion in projects under U.S. control and to purchase $100 billion in liquefied natural gas and other energy commodities. It will also initiate additional reinvestment strategies to support its domestic growth. The full scope of financial commitments is expected to be revealed during South Korean President Lee Jae-myung’s visit to the U.S. in two weeks. Trump stated that mutual consensus led to the implementation of the 15% tariff, while the U.S. would not face retaliatory tariffs. The deal also outlines South Korea’s commitment to fully liberalize trade and facilitate imports of American goods, including vehicles and agricultural products.

On the same day, Trump took to social media to announce that Indian exports to the U.S. would be subject to a 25% tariff starting August 1, along with further punitive measures. He criticized India’s tariff and non-tariff barriers as excessively restrictive, claiming they had hindered bilateral trade growth. Follow-up statements cited a notable U.S. trade deficit with India. Despite multiple negotiation rounds initiated after Washington’s April 2 announcement of “reciprocal tariffs,” talks ultimately stalled due to India’s firm position on safeguarding its agriculture and dairy industries. According to the U.S. Department of Commerce, bilateral trade in goods reached around $128.8 billion in 2024, with India holding a surplus of $45.8 billion.

Later that day, the White House confirmed Trump had authorized an executive order enforcing an additional 40% tariff on imports from Brazil, increasing the total rate to 50%. Exempted from this directive are select categories including wood pulp, crude petroleum, energy commodities, certain fertilizers, pig iron, and precious metals. The tariff plan had been previously disclosed and will take effect on August 1.

A proclamation issued by the White House on July 30 also clarified details regarding copper tariffs. Starting August 1, the U.S. will implement a 50% duty on incoming semi-finished copper items and copper-intensive derivatives, such as rods, plates, tubes, wires, cables, connectors, and fittings. Exclusions apply to primary copper input materials—including ore, concentrates, blister copper, cathodes, anodes, and scrap—which will not be subject to these duties under Section 232 of the Trade Expansion Act of 1962 or reciprocal tariff measures. Section 232 authorizes the President to impose import restrictions if national security concerns arise