Overview

• Reciprocal tariffs ranging from 10% to 50% on imports from more than 60 countries became fully active on August 7, raising the average U.S. import duty to its highest level in a century.
• India’s government condemned the 50% levy as “unfair, unjustified and unreasonable,” warning that the steep duties threaten export viability for nearly 55% of its shipments to the U.S.
• Switzerland held an emergency cabinet meeting after negotiations in Washington failed, and Brazil’s officials have engaged in high-level talks to secure lower rates and carve-outs.
• U.S. Treasury Secretary Scott Bessent projects that the new framework could generate upwards of $300 billion in tariff revenues annually.
• Apple’s $100 billion commitment to expand domestic supply-chain manufacturing highlights corporate strategies to offset incoming 100% duties on foreign semiconductors.