.S. customs agents have started collecting President Donald Trump’s new unilateral 10% tariff on imports from many countries, marking a dramatic departure from the post–World War II system of mutually agreed tariff rates.
The baseline tariff took effect at 12:01 a.m. ET on Saturday at U.S. seaports, airports, and customs warehouses, with higher reciprocal tariffs on goods from 57 major trading partners scheduled to begin next week.
“This is the single biggest trade action of our lifetime,” said Kelly Ann Shaw, a trade lawyer at Hogan Lovells and former White House trade adviser during Trump’s first term. Speaking at a Brookings Institution event on Thursday, Shaw noted that while the tariffs are expected to evolve as countries negotiate lower rates, they represent a seismic shift in the global trading system.
Trump’s announcement on Wednesday sent shockwaves through global markets, wiping out $5 trillion in market value for S&P 500 companies by Friday’s close—a record two-day decline. Oil and commodity prices plummeted, prompting investors to seek refuge in government bonds.
Among the countries first impacted by the 10% tariff are Australia, Britain, Colombia, Argentina, Egypt, and Saudi Arabia. U.S. Customs and Border Protection (CBP) has indicated that cargoes on the water at midnight Saturday will not benefit from a grace period; however, a 51-day grace period has been granted for cargoes loaded onto vessels or planes and in transit to the U.S. before the tariff took effect, provided they arrive by 12:01 a.m. ET on May 27.
At the same time on Wednesday, higher “reciprocal” tariff rates ranging from 11% to 50% were set to take effect. The measures include a 20% tariff on European Union imports and a 34% tariff on Chinese goods, which raises the total new tariffs on China to 54%. Vietnam is slated to face a 46% tariff, with discussions already underway between its officials and Trump’s administration. Meanwhile, Canada and Mexico remain exempt from the latest duties, as they are still subject to a separate 25% tariff linked to the U.S. fentanyl crisis for non-compliant goods under the U.S.-Mexico-Canada rules of origin.
The administration has also released a list of more than 1,000 product categories, valued at $645 billion in 2024 imports, that are exempt from the tariffs. These categories include crude oil, petroleum products, pharmaceuticals, uranium, titanium, lumber, semiconductors, and copper. Beyond energy, the Trump administration is reportedly investigating several of these sectors for additional national security tariffs.
As the new tariffs begin to reshape international trade, global markets and governments brace for the economic ripple effects of what many see as a bold and unprecedented move by the U.S. administration.
President Donald Trump stated on Thursday that he would consider offering tariff relief to China if Beijing approves a deal for the sale of TikTok, the short video app owned by ByteDance.
India and 10 African countries will hold their inaugural joint naval exercise in the Indian Ocean in mid-April, marking a significant step in military cooperation aimed at boosting maritime security and countering China’s growing influence in the region.
Iran’s President Masoud Pezeshkian has dismissed his deputy for parliamentary affairs, Shahram Dabiri, following controversy over Dabiri’s recent trip to Antarctica during the Persian New Year holidays.
U.S. oilfield service firms are facing significant challenges following President Donald Trump’s recent tariff announcement, which is disrupting supply chains and contributing to a decline in oil prices.
Jaguar Land Rover will suspend shipments of its UK-made vehicles to the United States for a month as it evaluates ways to address the impact of President Donald Trump's 25% tariff on imported cars, according to a report in The Times.
President Donald Trump stated on Thursday that he would consider offering tariff relief to China if Beijing approves a deal for the sale of TikTok, the short video app owned by ByteDance.
India and 10 African countries will hold their inaugural joint naval exercise in the Indian Ocean in mid-April, marking a significant step in military cooperation aimed at boosting maritime security and countering China’s growing influence in the region.
Iran’s President Masoud Pezeshkian has dismissed his deputy for parliamentary affairs, Shahram Dabiri, following controversy over Dabiri’s recent trip to Antarctica during the Persian New Year holidays.
U.S. oilfield service firms are facing significant challenges following President Donald Trump’s recent tariff announcement, which is disrupting supply chains and contributing to a decline in oil prices.
Jaguar Land Rover will suspend shipments of its UK-made vehicles to the United States for a month as it evaluates ways to address the impact of President Donald Trump's 25% tariff on imported cars, according to a report in The Times.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
The inaugural Samarkand International Climate Forum will kick off on 4th April at the Silk Road Samarkand Congress Center in Uzbekistan. The high-profile forum will be held under the theme "Central Asia Facing Global Climate Challenges: Consolidation for Shared Prosperity."
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
President Donald Trump stated on Thursday that he would consider offering tariff relief to China if Beijing approves a deal for the sale of TikTok, the short video app owned by ByteDance.
India and 10 African countries will hold their inaugural joint naval exercise in the Indian Ocean in mid-April, marking a significant step in military cooperation aimed at boosting maritime security and countering China’s growing influence in the region.
Iran’s President Masoud Pezeshkian has dismissed his deputy for parliamentary affairs, Shahram Dabiri, following controversy over Dabiri’s recent trip to Antarctica during the Persian New Year holidays.
U.S. oilfield service firms are facing significant challenges following President Donald Trump’s recent tariff announcement, which is disrupting supply chains and contributing to a decline in oil prices.
Jaguar Land Rover will suspend shipments of its UK-made vehicles to the United States for a month as it evaluates ways to address the impact of President Donald Trump's 25% tariff on imported cars, according to a report in The Times.
President Donald Trump stated on Thursday that he would consider offering tariff relief to China if Beijing approves a deal for the sale of TikTok, the short video app owned by ByteDance.
India and 10 African countries will hold their inaugural joint naval exercise in the Indian Ocean in mid-April, marking a significant step in military cooperation aimed at boosting maritime security and countering China’s growing influence in the region.
Iran’s President Masoud Pezeshkian has dismissed his deputy for parliamentary affairs, Shahram Dabiri, following controversy over Dabiri’s recent trip to Antarctica during the Persian New Year holidays.
U.S. oilfield service firms are facing significant challenges following President Donald Trump’s recent tariff announcement, which is disrupting supply chains and contributing to a decline in oil prices.
Jaguar Land Rover will suspend shipments of its UK-made vehicles to the United States for a month as it evaluates ways to address the impact of President Donald Trump's 25% tariff on imported cars, according to a report in The Times.
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