August 6: President Trump signed an executive order issuing an additional 25% tariff on imports from India, effective Wednesday, August 27. This is due to India’s purchases of Russian oil and brings the total tariff rate to 50%. President Trump also proposed a 100% tariff on semiconductor imports, excluding companies that manufacture or commit to manufacturing in the United States.

Tariffs intensify as the Federal Reserve continues to hold rates and the trucking market slows.

The United States ramps up metal tariffs while trading partners push to negotiate deals.