'Billions Of Dollars Flowing In': Trump Celebrates As New Tariffs Go Into Effect

Last Updated:August 07, 2025, 19:31 IST

President Trump celebrated new tariffs on over 90 countries, claiming billions are flowing into the US economy. Tariffs range from 10% to 50%, with some negotiating lower rates.

US President Donald Trump (Image Credit: Reuters)

United States President Donald Trump on Thursday expressed joy over the official rollout of his sweeping new tariffs on more than 90 countries, according to a report in New York Post. Taking to Truth Social, Trump claimed that “billions of dollars" were now pouring into the US economy as a result of hiked tariff rates.

“It’s midnight!!! Billions of dollars in tariffs are now flowing into the United States of America!" he wrote on Truth Social, shortly after the higher tariff rates came into effect.

In another post, Trump said the new revenues were coming largely from countries that had “taken advantage of the United States for many years, laughing all the way." He added, “The only thing that can stop America’s greatness would be a radical left court that wants to see our country fail!"

At 12:01 am, US Customs and Border Protection began collecting the hiked tariffs, which now range from 10% to 50%, the report claimed. The new rates follow weeks of uncertainty over Trump’s final tariff plan, as trading partners scrambled to negotiate lower rates.

Imports from a slew of countries had previously been subject to a baseline 10% import duty after the president halted higher rates that he’d announced in early April.

Some countries were hit hard, including Brazil (50%), Switzerland (39%), Canada (35%), and India (50%). However, eight major trading partners—including the EU, Japan, and South Korea—secured deals to lower their tariffs to 15% after extensive negotiations. The UK received a 10% rate, while Vietnam, Indonesia, Pakistan, and the Philippines saw duties lowered to around 19–20%.

Trump had initially announced a 25 per cent tariff rates for Indian goods over its trade with Russia. Later, he announced a new 25% tariff on Indian goods, citing India’s continued purchase of Russian oil.

Trump has often pointed to tariffs as a key revenue source, though critics note the costs are typically passed on to US importers and consumers. “I think the growth is going to be unprecedented," Trump said on Wednesday.

New York Post cited Treasury Secretary Scott Bessent as saying that it estimated that tariff revenues could top $300 billion annually.

Manisha Roy

Manisha Roy is a Senior Sub-Editor at News18.com's general desk. She comes with an experience of over 5 years in media industry. She covers politics and other hard news. She can be contacted at Manisha.Roy@nw18...Read More

Manisha Roy is a Senior Sub-Editor at News18.com's general desk. She comes with an experience of over 5 years in media industry. She covers politics and other hard news. She can be contacted at Manisha.Roy@nw18...

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First Published:

August 07, 2025, 19:31 IST

News world 'Billions Of Dollars Flowing In': Trump Celebrates As New Tariffs Go Into Effect

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