Tariffs go into effect. Trump celebrates.

The rates

The new trade order approved by the White House is now a reality. A 15 percent tariff is imposed on the European Union, but the 50 percent tariff on steel remains unchanged, while Trump announced a 100 percent tariff on semiconductors. Which countries are most affected?

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"It's midnight!" Donald Trump announces on Truth . "Billions of dollars, largely from countries that have taken advantage of the United States for years, will flow to the United States of America!", reminding the world that the new tariffs imposed by the White House go into effect today . The duties replace the 10 percent tariffs on all goods imported into the US, imposed in April on "Liberation Day."

Under the agreement reached between the European Union and the United States last week in Scotland, tariffs on European products will be 15 percent. The inflation outlook is now more uncertain than usual, the ECB states in its economic bulletin , "due to the volatile global trade policy environment."

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Tariffs of 15 percent were also imposed on products from Japan and South Korea.

Among the countries that fared worst were Switzerland, with tariffs at 39 percent, Myanmar (40 percent), Syria (41 percent), and Brazil (50 percent) . Brazilian President Luiz Inacio Lula da Silva has declared that he does not want to negotiate with Trump, because any talks would be humiliating.

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Additional tariffs of 25 percent—bringing the total to 50 percent—will hit India : "India buys huge amounts of Russian oil. They don't care how many people in Ukraine are killed by the Russian war machine," Trump explained his decision on Truth.

50 percent tariffs remain in place on steel and aluminum imports.

Trump then announced 100 percent tariffs on imports of chips and semiconductors , but these will not be applied to companies that also produce in the United States, or that commit to moving part of their production there.