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#TrumpTariffs #MarketPullback President Donald Trump’s so-called reciprocal tariffs on nearly all key U.S. trading partners will go into effect on August 7—a week later than his self-imposed deadline of August 1—as he signed an executive order on Thursday night setting revised rates for 68 countries and the European Union.

❗️❗️Key Facts❗️❗️

⭕️Trump’s order outlines updated tariff rates for 67 countries, the European Union and Taiwan, ranging between 10% and 41%.

⭕️Countries not listed in the order will face a baseline tariff rate of 10%—which is in line with Trump’s April 2 “Liberation Day” announcement.

⭕️The new order does not cover rates for China, which is still engaged in tariff negotiations with the U.S. government, and Mexico, which was given a 90-day extension on an earlier deal while trade talks with the U.S. continue.
⭕️It is unclear why the tariffs were pushed from August 1 to August 7, but this will likely heighten uncertainty for key trading partners, who now have an additional week to negotiate lower rates.

⭕️Syria, Laos and Myanmar will face the highest reciprocal tariff rates of 40 to 41% as per Thursday’s order.