Overview

• The July 31 decree pushes the effective date of reciprocal tariffs from August 1 to August 7 to allow final bilateral talks.
• Agreed partners like the EU, Japan and South Korea will face 15% duties, while the UK has secured a 10% rate.
• Countries without deals face steep levies of up to 41%, including Switzerland at 39% and Laos at 40%.
• Canada’s non-ACEUM imports rise to 35% duty, Mexico wins a 90-day extension at 25%, Brazil is slapped with 50%, and India bears 25% plus an added penalty.
• Global stock indexes dipped on the tariff announcement and a federal appeals court has begun reviewing the president’s unilateral authority.