US begins implementing new 10% tariff - Higher tariffs, 11-50%, take effect on Wednesday
United States Customs has begun collecting the 10% tariff imposed by President Donald Trump on all imports from many countries, including Kosovo and Albania.
Meanwhile, higher tariffs on goods from the US's 57 largest trading partners will go into effect next week. The initial base tariff of 10 percent went into effect at US seaports, airports and bonded warehouses at 12:01 a.m.
Trump's highest reciprocal tariffs, ranging from 11% to 50%, will take effect on Wednesday. Imports from the European Union will be hit with a 20% tariff, while Chinese goods will be hit with a 34% tariff, bringing the total new tariff on China to 54%.
Canada and Mexico are exempt from Trump's latest tariffs, as they are still subject to a 25% tariff imposed in response to the fentanyl crisis in the US. Trump has exempted from the new tariffs goods that are subject to special 25% tariffs for national security reasons. These include steel and aluminum, cars, trucks and auto parts.
The US administration also published a list of over 1,000 product categories that are exempt from the new tariffs. These include crude oil, petroleum products and other energy imports, pharmaceuticals, uranium, titanium, lumber, etc.
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