The expert spoke about the consequences of the introduction of US duties on goods from more than 60 countries.

On August 1, 2025, US President Donald Trump signed a decree imposing duties on goods from more than 60 countries and the European Union (EU). The duties range from 15% to 41% and will affect key sectors of the economy, including automobiles, electronics, pharmaceuticals and energy. Evgeny Shatov, a partner at Capital Lab, told Izvestia about this on August 7.

The duties will have the greatest impact on car exports from Germany and Canada, as well as on electronics supplies from Taiwan and South Korea. In turn, the United States will protect its economy by raising the prices of goods for its citizens.

Shatov argues that an increase in duties on cars, for example, will lead to higher prices for products from German and Japanese automakers. German companies such as Volkswagen and BMW may lose competitiveness in the American market, where duties amount to 15%. South Korea (Hyundai) and Japan (Toyota) will also face price increases, which may affect their sales in the United States. According to the expert, Canada will face additional 35% duties, which may lead to losses of up to 100,000 jobs in the market.

The pharmaceutical industry is also under threat. Switzerland, the largest exporter of medicines to the United States, will face duties of 39%, which could affect the cost of drugs and cause shortages. Although the sector has not been badly affected at the moment, in the future Trump intends to impose duties of up to 250%, which will worsen the situation. This may lead to higher drug prices and shortages of certain drugs.

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Energy and raw materials will also be affected by the new duties. The BRICS countries, in particular India and Brazil, will face duties on the export of raw materials at 25% and 50%. India also risks losing access to the US market due to purchases of Russian oil, which will also complicate its economic ties with America. The European Union, in turn, has committed to purchase $750 billion worth of energy from the United States, which will also put pressure on the European oil refining industry.

The question of how this will affect consumer prices remains open. According to Shatov's forecasts, inflation in the United States will increase by 1.7%, but for certain goods such as clothing (17%), electronics (8%) and cars (11%), the consequences will be more significant. This will lead to a decrease in purchasing power, especially among the middle class, and increase pressure on retailers such as Walmart and Amazon. In the EU, duties of 15% can lead to economic losses in the amount of €37–€75 billion annually, which will also affect the growth of prices for imported goods from the United States, the expert believes.

Trump's measures may also encourage retaliatory steps from other countries. China has already imposed duties of up to 32.6% on American goods and is threatening further measures in the event of an increase in tariffs. India is considering imposing sanctions in response to accusations of supporting Russia, and EU and Asian countries may strengthen economic cooperation among themselves. China is already diversifying exports through the APEC countries, which reduces its dependence on the United States.

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Possible retaliatory measures may include mirror duties, enhanced cooperation, and negotiations on new trade agreements. Switzerland and Canada can already challenge the duties through the World Trade Organization (WTO), and the BRICS countries are considering alternatives in the form of settlements in national currencies to reduce dependence on the dollar.

"Trump's tariffs are a tool for reformatting global trade in favor of the United States, but their consequences are ambiguous. In the short term, they will protect American industries (energy, agriculture), but they will cause price increases and destabilization of supply chains. For the EU and Asia, this is an incentive to accelerate economic autonomy, which in the long run may weaken the influence of the United States. The key question is whether negotiations (for example, the US—China before August 12) will be able to mitigate the conflict," Shatov concluded.

The day before, the American leader signed a decree imposing an additional duty of 25% on imports from India. The White House clarified that this measure was introduced in connection with India's "direct or indirect" import of petroleum products from the Russian Federation.

Shortly after, the chairman of the opposition Indian National Congress party, Rahul Gandhi, said that the US imposition of trade duties on imports of Indian goods was economic blackmail.

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