Overview

• Duties ranging from 10% to 50% on imports from more than 60 countries took effect on August 7 under a 1977 emergency economic authority
• A 100% levy on imported chips and semiconductors is designed to pressure technology firms to relocate production to the United States
• Apple, Nvidia and TSMC have announced multibillion-dollar U.S. investments to avoid the new duties
• Early economic indicators show rising consumer prices, stalled hiring and slower construction following the tariff rollout
• The European Union, BRICS members and other affected partners have launched diplomatic negotiations and filed legal challenges in U.S. courts