The U.S. government will implement new country-specific tariffs on imports from nearly 70 nations starting August 7, shifting the start date from the originally expected August 1. These tariffs include a baseline rate of 10%, with elevated duties ranging from 15% to 41% depending on the country. Among the hardest hit are Canada (35%), Switzerland (39%), and Syria (41%). Meanwhile, countries like Japan, South Korea, Indonesia, Cambodia, and Thailand have secured lower rates after negotiating side agreements that include commitments such as trade purchases and market access concessions.
The announcement has already triggered market volatility, with major stock indices in Europe and Asia reacting sharply. Affected sectors, particularly apparel, luxury goods, and pharmaceuticals, are bracing for cost pressures as companies reevaluate sourcing and pricing strategies.
In parallel, U.S. trade authorities are ramping up enforcement efforts to crack down on transshipment practices, where goods are rerouted through low-tariff countries to avoid higher duties. Customs audits and origin verifications are expected to increase as compliance scrutiny rises. Legal challenges to the administration’s expanded tariff powers remain active, but the duties will take effect as scheduled.
