The United States has finalized a sweeping set of tariff increases on dozens of global trade partners, with new rates scheduled to take effect on August 7, 2025.

The measures, authorized by executive order, include tariff hikes ranging from fifteen to fifty percent and mark one of the most extensive overhauls of U.S. trade policy in recent decades.

Canada will face a thirty-five percent tariff, up from the previous twenty-five percent rate, while the United Kingdom retains a baseline tariff of ten percent.

The European Union, Japan, and South Korea are all set to face a uniform tariff rate of fifteen percent, as part of recent bilateral arrangements.

Mexico, the United States' largest trading partner, received a ninety-day extension on its current tariff rates following direct negotiations between U.S. and Mexican officials.

Imports from Mexico will still be subject to duties on metals and automobiles.

Brazil will be subject to a fifty percent tariff on many goods, although key U.S. imports such as orange juice and aircraft parts are exempt.

An estimated 35.9 percent of Brazil’s exports to the U.S. will fall under the new highest tariff tier.

India is slated to face a twenty-five percent tariff after trade talks stalled, with additional penalties linked to its energy trade with Russia.

Taiwan will be subject to a twenty percent rate, while Switzerland faces a thirty-nine percent tariff, affecting sectors including watches and pharmaceuticals.

Bangladesh secured a reduction in its apparel export tariff to twenty percent, down from an initially proposed thirty-seven percent.

This aligns its rate with other major garment exporters such as Vietnam, Pakistan, Sri Lanka, and Indonesia.

The U.S. also signed agreements with Thailand and Cambodia, following their ceasefire agreement earlier in the week.

Both countries were originally facing a thirty-six percent tariff before the new deals.

On materials, President Trump imposed a fifty percent tariff on semi-finished copper products including pipes, wires, and rods, while exempting raw forms such as ore and cathodes.

This move led to a sharp drop in copper futures traded in New York.

A new order also ends the de minimis exemption for low-value imports under eight hundred dollars, with tariffs now applicable from August 29.

The move affects a wide range of e-commerce shipments.

In addition to the tariffs, the U.S. reached a new trade deal with South Korea.

The agreement includes a fifteen percent tariff on South Korean imports and a pledge from Seoul to invest three hundred and fifty billion dollars in U.S. energy and shipbuilding sectors.

President Trump has also confirmed a trade agreement with Pakistan that allows U.S. companies to develop Pakistan’s oil reserves.

In exchange, Pakistan will receive reduced tariffs on its exports to the U.S., although specific terms have not been disclosed.

The White House stated that over seventy countries are affected by the updated reciprocal tariff framework.

Many countries with which the U.S. runs a trade surplus were excluded from this round of increases, maintaining the ten percent baseline rate.

On August 1, Thailand and the United States finalized a reciprocal tariff agreement setting U.S. duties on Thai imports at nineteen percent, down from the previously announced thirty‑six percent rate.

The new tariff takes effect immediately and brings Thailand in line with regional economies such as Indonesia and Malaysia, which also secured a nineteen percent rate, and Vietnam at twenty percent.

Thailand’s Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, confirmed that the agreement was reached ahead of the August 1 deadline after rapid negotiations in recent weeks, during which Thailand submitted revised proposals and concessions on product access and trade balances.

Thai officials viewed the outcome as matching regional tariff parity.

Before the deal, the U.S. had imposed a baseline ten percent tariff for all trading partners, escalating to higher reciprocal tariffs for nations with trade surpluses.

Thailand, previously classified among countries facing steep duties, was scheduled for a thirty‑six percent rate effective August 1.

Thailand’s exports to the U.S. accounted for approximately eighteen point three percent of its total exports in 2024, valued near fifty‑five billion dollars.

Major export categories include electronics, rubber, and machinery; imports from the U.S. comprise crude oil, machinery parts, and chemicals.

The government also announced support measures—such as soft loans, subsidies, tax incentives, and regulatory reforms—to assist affected sectors in adjusting to the revised tariff regime.

The new rate follows U.S. Executive Orders outlining reciprocal tariffs, and reflects similar rates agreed by other Southeast Asian nations amid broader adjustments in global trade policies.

Meanwhile, Thailand’s economy has seen export growth accelerate year‑to‑date, prompting a slight upward revision of its full‑year GDP forecast to 2 point two percent, up from 2 point one percent.

Negotiations involved both public‑ and private‑sector representatives, with Thai negotiators submitting revised offers via video conference and in‑person exchanges.

The agreement was formally confirmed by U.S. authorities immediately before the deadline, after Thai proposals were described as comprehensive and responsive to U.S. requests.

The reciprocal tariff reduction applies to all goods with less than twenty percent U.S.‑origin content, under current U.S. policy frameworks.

Chinese e‑commerce group JD.com has launched a voluntary cash offer to acquire German retailer Ceconomy at €4.60 per share, putting the equity valuation at around €2.2 billion.

JD.com and Ceconomy have confirmed that talks are at an advanced stage, though no binding agreement has been signed .

Ceconomy owns the MediaMarkt and Saturn electronics chains, operating more than 1,000 stores across Europe and employing roughly 50,000 people.

The company recorded approximately €22.4 billion in sales during its 2023‑24 fiscal year, with roughly a quarter of revenue derived from online operations .

The proposed offer represents a premium of about 23 percent over Ceconomy’s closing share price prior to reports of the bid.

Shares surged in response following the announcement, while JD.com’s own stock declined modestly .

JD.com previously explored acquiring UK electronics chain Currys in early 2024, but withdrew from those talks.

The current bid aims to leverage Ceconomy’s established offline retail footprint and brand recognition to support JD.com’s broader expansion into European consumer electronics retail and e‑commerce .

Key shareholders—including the Kellerhals family (founders of MediaMarkt) and the Haniel family—control significant blocks of Ceconomy stock and have not yet publicly commented.

The outcome of shareholder discussions remains central to deal progression .

Ceconomy’s chief executive stated that the acquisition will be reviewed by European Union competition authorities, rather than Germany’s national regulator, due to its scale.

The completion of the transaction is expected to depend on regulatory approvals and shareholder consent .

If completed, the takeover would represent one of the largest recent Chinese acquisitions in European retail, combining JD.com’s logistics and digital expertise with Ceconomy’s physical stores and ecommerce presence .

Azerbaijani lawmakers have reviewed draft legislation that would legalise casino operations, but restrict them to artificial land plots located in the Azerbaijani sector of the Caspian Sea.

Operators would be required to obtain annual licences costing AZN 340,000 (approximately US $200,000) under amendments to the Law on State Fees presented to parliament in mid‑June .

Casino activity has been prohibited in Azerbaijan since a 1998 presidential decree that banned casinos, betting shops and cash‑prize games on grounds of morality, economic risk and potential for money laundering .

Supporters of the reform argue that a regulated casino sector could help retain capital that currently leaves the country as Azerbaijani citizens travel abroad to gamble, especially to Georgia, Russia and other neighbouring states .

In 2024 Georgia’s gambling turnover reached US $28 billion, employing over 20,000 people, with around 20 per cent of revenue attributed to foreign clients including citizens of Azerbaijan .

Economic forecasts for the global casino industry project turnover rising from US $580 billion in 2024 to US $745 billion by 2028 .

Proponents in Azerbaijan suggest that licensing such operations could generate significant tax revenues and support economic diversification within the non‑oil sector .

The draft reforms would limit casinos to designated artificial zones, such as the Sea Breeze resort area on the Absheron Peninsula, where businessman Emin Agalarov has previously expressed interest in establishing a casino at his entertainment complex .

In October 2024 he publicly discussed integrating casino operations into the Sea Breeze development, citing tourism potential .

Parliamentarians have emphasised that tightly controlled licensing and strict regulatory frameworks—incorporating anti‑money laundering and anti‑terror‑financing provisions, financial safeguards and age restrictions—would be central to the legislative package .

Analysts and tourism officials argue that legal casinos could drive infrastructure development—including hotels, roads, public services—and create thousands of direct and indirect jobs in hospitality, transport, security, marketing and related sectors .

They also highlight that legalisation would curb illegal gambling and online fraud by bringing the activity into a regulated environment .

Critics note that Azerbaijan remains a majority Muslim country where gambling is socially and morally sensitive, and past attempts to reintroduce casinos—including proposals by Ibrahim Nehramli in 2016—were met with opposition on both legal and ethical grounds .

Parliament is expected to continue reviewing the proposed amendments over the coming months.

The reforms, if enacted, would mark the first formal authorisation of casino gambling in Azerbaijan in more than 25 years and reshape the country’s tourism and fiscal landscape.