Overview

• President Trump signed executive orders on August 1 establishing reciprocal tariffs of 10%–41% on imports from 69 countries effective August 7.
• Canada’s tariff rate will rise to 35% for non-USMCA goods while Mexico retains its current 25% duty under a 90-day negotiating reprieve.
• China has until August 12 to secure a durable trade agreement or face the full reciprocal duties imposed by the administration.
• The tariff schedule sets country-specific rates, including 25% for India, 20% for Taiwan, 50% for Brazil and 39% for Switzerland, with a default 10% on unspecified partners.
• Global markets dipped modestly on the announcement as allied capitals and U.S. negotiators prepare for follow-up talks on exemptions and investment commitments.