Overview
- President Trump’s executive order sets reciprocal tariffs ranging from 10% to 41% on foreign imports, effective August 7.
- Trade Representative Jamieson Greer told CBS’s Face the Nation that “these tariff rates are pretty much set” and unlikely to change before implementation.
- NEC Director Kevin Hassett affirmed that market reactions will not sway the finalized tariff deals.
- Canada faces a 35% duty on goods outside USMCA coverage after March counter-tariffs and expects Prime Minister Carney to speak with President Trump in coming days.
- Appeals courts have expressed skepticism over the legal basis of Trump’s tariff authority as lawsuits progress toward the Supreme Court.