The White House updated its tariff plan on Thursday evening hours before President Donald Trump’s deadline for new trade agreements was set to kick in. The new plan pushes the implementation of tariffs back a week from August 1 to August 7 to give Customs and Border Patrol officials time to adjust to the new …
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The White House updated its tariff plan on Thursday evening hours before President Donald Trump’s deadline for new trade agreements was set to kick in.
The new plan pushes the implementation of tariffs back a week from August 1 to August 7 to give Customs and Border Patrol officials time to adjust to the new levies leveled at dozens of countries. The new plan also reveals a host of tariff rates that are set to kick in.
The 10% universal tariff will remain the floor for tariff rates for trade with the United States. Only countries that have a trade deficit with the United States – meaning they import more from the United States than they export – will receive the 10% tariff rates. For countries that have a trade surplus with the United States, their goods will be tariffed at least at 15%, according to the White House plan.
