U.S. President Donald Trump on Thursday doubled down on his sweeping global tariffs, claiming they are making America “great and rich again,” just hours before new trade measures are set to take effect on August 1. The comments came amid a flurry of last-minute trade deals and rising diplomatic tensions.
Posting on his Truth Social platform, Trump said, “Tariffs are making America great and rich again,” adding, “One year ago, America was a dead country, now it is the ‘hottest’ country anywhere in the world.”
The White House recently announced a new round of tariffs targeting several key trading partners. While some countries reached compromise agreements — including South Korea, which secured a 15% tariff rate on exports to the U.S. — others faced harsher penalties. Trump imposed a 50% tariff on Brazil and a 25% tariff on Indian goods, citing failed trade talks and foreign policy disputes.
The 15% deal with Seoul, Washington’s close security ally, was presented as part of a broader investment package that includes a $350 billion South Korean commitment to the U.S., as well as $100 billion in liquefied natural gas and energy purchases. Car tariffs, a key concern for South Korea, were also held at 15%.
Brazil, meanwhile, was hit with both economic sanctions and tariffs, some of which are delayed until August 6. The U.S. also singled out Brazilian Supreme Court Justice Alexandre de Moraes for sanctions, accusing him of persecuting former president Jair Bolsonaro — a move Brazilian President Luiz Inacio Lula da Silva criticized as a violation of national sovereignty.
Trump further warned of trade penalties against Canada after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the UN. “That will make it very hard for us to make a trade deal with them,” Trump wrote.
India, another major target, faced both a 25% tariff and vague punitive measures over its defense ties with Russia. “They can take their dead economies down together, for all I care,” Trump stated, blaming India’s high tariffs for stalling business with the U.S.
Trump’s tariff campaign, revived from his first term, includes a broader 10% base rate on imports from nearly all countries, which will rise to higher levels depending on individual deals. Several nations — including Japan, the EU, and Vietnam — have negotiated reduced rates, while others await impact.
Despite Trump’s optimistic messaging, many economists have cautioned that these tariffs could increase inflation and slow growth, especially as global supply chains remain fragile. Still, Trump declared Wednesday a “big day for America,” as Commerce Secretary Howard Lutnick confirmed new agreements with Cambodia and Thailand.
With the August 1 deadline just hours away, global markets remain volatile, and diplomatic tensions are rising — even as Trump’s administration frames the measures as a path to American prosperity.