U.S. Reciprocal Tariffs Officially Take Effect

At the stroke of midnight on August 7 (Eastern Time), the United States officially began enforcing reciprocal tariffs on various countries, marking a significant shift in international trade policies.

President Trump's Declaration

President Donald Trump announced the implementation on Truth Social, stating, "It’s midnight!!! Billions of dollars in tariffs are now flowing into the United States of America." He further emphasized the move as a corrective measure against countries that have historically taken advantage of the U.S.

Global Impact

According to the Federal Register, the tariffs specify a 15% rate for Korea and Japan, 20% for Taiwan, 25% for India, and a staggering 39% for Switzerland. The European Union's rates remain unchanged from previous announcements.