August Tariff Increases Hit Array of Goods—From Coffee to Pharmaceuticals
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Navigating Washington: Insights for Business

Global Economy Briefs

Timely insights from the Economy, Strategy & Finance Center

August Tariff Increases Hit Array of Goods—From Coffee to Pharmaceuticals

August 06, 2025

US consumers and companies will face higher prices in the months ahead, as the Administration levels up tariffs from its baseline of 10%. Ahead of last week’s tariff deadline, the Administration announced new frameworks via Executive Orders.

The US now has an effective tariff rate of about 18%, the highest since the 1930s. Significant tariff increases include imported goods from the following countries, effective August 7:

  • Brazil: A 50% tariff will mean higher coffee prices. The US imports a third of its coffee from Brazil.
  • Switzerland: A 39% tariff will impact watches, chocolate, and coffee prices.
  • India: A 25% tariff rate on India will impact generic drugs and active pharmaceutical ingredients—leading US imports from India.
  • European Union: At a tariff rate of 15%, goods from the EU are lower than many other trading partners. However, pharmaceuticals aren’t exempted from the agreement. About three-quarters of the US’s $212 billion of imported drugs come from the EU.
  • China: A 30% baseline tariff rate continues. China’s on a separate timeline for t
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Author

Erin McLaughlin

Erin McLaughlin

Senior Economist, ESF Center

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