President Donald Trump signed an executive order yesterday to implement tariffs for nearly 70 countries, according to Automotive Dive.
The executive order also pushed back the implementation of the tariffs by seven days, to Aug. 7. 70 countries are listed, with rates ranging from 10% to 41%. It will lift the existing pause on country-specific tariffs, as well as introduce new rates for specific trading partners.
In addition to levies for countries that match the rates included in a series of trade-related agreements, the executive order will also implement a 25% tariff on imports from India. Canada, Mexico, and China will continue to require separate duties, and goods from countries not listed in the order will be subject to a baseline 10% tariff.
Goods loaded onto vessels or in transit to the U.S. ports on the day tariffs are implemented will not be subject to them, so long as they are entered for consumption by Oct. 5. If U.S. Customs and Border Protection determines that any goods were “transshipped to evade applicable duties,” they will require a 40% tariff, as well as other fees and penalties.
