Customs duties: Stock markets fell sharply under the weight of tax increases formalized by Donald Trump

Global stock markets fell sharply on Friday, August 1st, under the weight of the tariff increases formalized by Donald Trump. In Europe, Paris lost 2.91%, Frankfurt 2.66%, and Milan 2.55%. London fell 0.70%. The Stoxx Europe 600 index, which brings together the continent's 600 largest stock market capitalizations, fell 1.33%. On Wall Street, around 5:50 p.m., the Dow Jones index was down 1.13%, the Nasdaq index 1.72%, and the S&P 500 lost 1.29%. US President Donald Trump signed the executive order on Thursday setting the amount of new tariffs that will affect several dozen countries, ranging from 10% to 41%, shaking up the global economic order.

This live broadcast is now over, thank you for watching.

A new date has been added to the US tariff calendar . Surcharges imposed on products from dozens of US trading partners will begin to be collected on Thursday, August 7, seven days after the originally announced date. This delay is supposed to allow customs time to organize, a White House official told the press. For Washington, this is "restructure global trade to benefit American workers."

Differences by country. Most of the countries cited are subject to a 15% tariff, with a few countries facing a higher rate, such as South Africa at 30%, Serbia at 35%, and Switzerland at 39%. The latter acknowledged "with great regret" the taxes imposed on its products exported to the United States, before announcing its desire to negotiate with the Donald Trump administration. With a surcharge of 41%, Syria is the country that will face the highest rate. Earlier this week, Donald Trump also imposed a 50% rate on Brazil , in retaliation for the prosecution of former President Jair Bolsonaro.

Contrasting reactions on the international scene. Bangladesh and Thailand welcomed an agreement with the United States, while Taiwan remains committed to "obtaining a reasonable level of tariffs." Conversely, Canada has said it is ready to act "to protect Canadian jobs, invest in our industrial competitiveness, buy Canadian and diversify our export markets," Prime Minister Mark Carney said.

Canada targeted by a separate decree. Canada, for its part, is targeted by a separate decree, which increases customs duties on its products imported into the United States from 25% to 35%. This increase only applies to products not transiting under the North American Free Trade Agreement (CUSMA). "Canada has been unable to cooperate to reduce the flow of fentanyl and other drugs" entering the United States, the White House justified in a document, "and has taken retaliatory measures against the United States."

The legality of these decisions is in question. A federal appeals court in Washington began hearing an appeal Thursday to determine whether Donald Trump exceeded his constitutional powers by imposing these surcharges without congressional approval.