On 07 August, President Trump’s reciprocal tariffs on over 60 countries took effect, with duties ranging from 10% to 50%. The highest rates were levied on goods from Brazil, India, and Switzerland, while other major partners like the EU secured lower rates. In response, both Brazil and India expressed defiance, calling the tariffs “unjustified and unreasonable.” The tariffs are expected to impact global supply chains, potentially increasing inflation and negatively affecting the GDP of targeted countries.