The U.S. has reached deals with EU, UK, South Korea, Japan, and others, while countries that haven’t struck deals will be hit with higher tariffs.
A few hours before the long-awaited Aug. 1 deadline, President Donald Trump implemented new tariff regimes for dozens of countries worldwide.
The White House introduced a universal tariff of 10 percent for foreign goods entering the United States. This baseline levy will apply to countries with which the United States exports more than it imports, also known as a trade surplus.
