With tariffs in place today, what countries have to pay more to rebalance trade?

Today is the day that many countries around the world have been preparing for. President Trump has laid out the remainder of his tariff plan, with most countries set to see their rates kick in next week on August 7th.

Canada is the only country with the new tariff rate set to kick in today. Through executive order, Trump raised the rate 10 points to 35 percent. This was done through an adjustment of the tariffs laid out in March, on concerns of fentanyl smuggling into the United States. Items covered under USMCA will not be impacted.

Here is where we stand today: A number of countries already have deals in place, like the European Union, Japan, and the UK. Mexican President Gloria Sheinbaum was able to secure a 90-day pause after a phone call with President Trump this week. He calls their situation “different” from other nations and says those negotiations will be handled separately.

Related Stories
RealAg Radio host Shaun Haney says farmers there are already sounding the alarm about what this could mean for the future of ag research.
From tariff talks in Europe to SCOTUS uncertainty and rising farm losses, analysts say policy and global supply will shape grain markets in the year ahead.
Analysts say a Supreme Court decision on tariffs could reshape protein markets, strain U.S.-China trade, and force farmers to rethink global demand strategies.
President Donald Trump speaks at the World Economic Forum in Davos, addressing SNAP spending, tariff threats against Europe, market reactions, and the upcoming USMCA review.
Corn growers are turning to ethanol, E15 expansion, and export markets to help absorb record supplies and stabilize prices. Farm leaders discuss low-carbon ethanol demand, flex-fuel vehicle challenges, input costs, and the role of USMCA as producers look for market relief in the year ahead.
From rising trade tensions in Europe to a pending Supreme Court decision on tariffs and shifting demand from China, global trade policy spearheaded by President Donald Trump continues to shape the outlook for U.S. agriculture—adding uncertainty as farmers navigate another volatile year.
Shaun Haney joined us to discuss Canada’s new trade agreement with China, the potential impact on farmers and exporters, and what it could mean for U.S.–Canada trade relations going forward.
The proposal signals a renewed push to offset tariff-driven losses, stabilize nutrition programs, and broaden eligibility for farm aid, though its path forward will depend on congressional negotiations.
House Agriculture Committee Democrats are calling for action on the Farm and Family Relief Act, warning that proposed SNAP cost shifts to states could reduce food assistance for low-income families amid ongoing tariffs and trade disruptions that continue to strain U.S. farmers.

LATEST STORIES BY THIS AUTHOR:

The EPA proposal laid out two options: fully reallocate all exempted volumes to the 2026–2027 standards, or reallocate half.
The Fertilizer Research Act, reintroduced by Sens. Grassley, Ernst, and Baldwin, would direct the USDA to study and publish public reports on competition and pricing trends in the fertilizer market.
Allowing year-round sales of E15 nationally could deliver billions in economic gains, according to a new study from the Renewable Fuels Association and National Corn Growers Association.
U.S. aquaculture may gain competitive ground as harmful subsidies are phased out abroad, but producers should monitor shifts in import supply chains and trade enforcement closely.
Producers may need to prepare for margin pressure in livestock feeding, while dairy farmers could benefit from stronger product demand.
Farmers await concrete trade commitments from China. Until then, export prospects for soybeans, corn, and sorghum remain uncertain against strong South American competition.