Trump's bellicose tariffs go into effect en masse for nearly 100 countries.

President Donald Trump's punishing, bellicose, or misnamed reciprocal tariffs against some 90 countries went into effect just as Thursday (East Coast Time) began, marking the climax of the escalating trade war that has already begun to affect the U.S. economy itself.

The amount of these taxes reaches levels not seen in the United States in nearly a century, and US citizens are expected to pay an average of 18.3% more for imported products. This is the highest cost since 1934, according to calculations by nonpartisan organizations.

Companies are coping with these goods taxes in various ways. In some cases, many vehicle manufacturers appear to be absorbing the increase, at least for the time being. Many economists argue that this will inevitably fall to some extent on consumers and businesses.

Just before midnight, Trump proclaimed on social media that dollars were beginning to flow into the U.S. as a result of the tariffs. “Billions of dollars, primarily from countries that have taken advantage of the United States for many years, are beginning to arrive,” he remarked.

“The only thing that can stop America from being great would be the radical leftist court that wants to bring our country down,” he wrote in capital letters, referring to the appeals court case that will decide whether Trump overstepped his authority by bypassing Congress in imposing these taxes.

The president noted that even more tariffs are on the way, betting heavily on a strategy that has shaken up markets, raised prices, and caused fear among both consumers and businesses.

The announcement was made last week, after months of back and forth, threats and withdrawals, which sometimes required formalizing prior agreements, such as the one agreed with the European Union (EU), which entails paying 15% tariffs on exports from the Old Continent to the US, while US products will receive 0% tariffs on their distribution within the 27 EU members.

According to Trump, these tariffs represent a reset or a real shake-up of the global trade system, a reconfiguration of relations he described as unfair, and the entry of new and significant revenue into his government's coffers, in addition to seeking to boost American industry.

In truth, they have already helped generate money, some 152 billion euros collected through July. But the consequences are already being felt. The labor market is suffering, inflation is rising, growth has slowed, and companies are warning that their stomachs can't hold out much longer. Shopping baskets are becoming increasingly empty, with the same amount of spending they did not spend so long ago.

Until Thursday, goods from each country were subject to a universal minimum of 10%, a percentage set on April 2, the day Trump liberated his country, unleashing his war. Meanwhile, negotiations continue with Mexico and China, with which he maintains tariffs of 35% on Chinese products, while conversely, he applies 10% to American goods.

Now those offset figures vary. Brazil and India at 50%; Laos and Myanmar, 40%; Switzerland, 39%; Canada (some products, since August 1); Iraq and Serbia, 35%, to name the most notable cases. Another 21 countries face tariffs above 15%, a list that includes nations the US relies heavily on for a variety of products, such as Vietnam (20%), Taiwan (20%), and Thailand (19%).

Then there is the group of 39 countries, which, like the EU, bear a 15% tariff. The European Union is the only trading partner whose reference rate includes previous tariffs. For example, cheeses, which had a 14.9% tax, now no longer rise to 29.9%, but instead remain at 15%. The obligation for the United Kingdom remains at 10%.

In addition, Trump threatened this Friday to impose 100% tariffs on chips and semiconductors. Those who manufacture in the US or invest or commit to investing in the country will be exempt.

Generally, these duties do not apply to foreign goods loaded onto ships before August 7. These goods in transit are not subject to the new tariffs as long as they enter the United States no later than October, a circumstance that may have opened the door to larger-than-usual inventory buildup.

Trump boasts about the huge amount of money coming in, which will help alleviate the country's enormous deficit. However, aware of the damage he's causing, although without explicitly acknowledging it, he has already floated the generous idea of offering refunds to the tightest households.