President Trump’s new tariffs take effect, targeting dozens of trading partners

President Donald Trump's higher tariff rates of 10% to 50% on dozens of trading partners kicked in on Aug. 7, testing his strategy for shrinking U.S. trade deficits without massive disruptions to global supply chains, higher inflation, and stiff retaliation from trading partners.

U.S. Customs and Border Protection agency began collecting the higher tariffs at 12:01 a.m. ET after weeks of suspense over Trump's final tariff rates and frantic negotiations with major trading partners that sought to lower them.

Goods loaded onto U.S.-bound vessels and in transit before the midnight deadline can enter at lower prior tariff rates before Oct. 5, according to a CBP notice to shippers issued this week. Imports from many countries had previously been subject to a baseline 10% import duty after Trump paused higher rates announced in early April.