President Trump’s reciprocal tariffs are scheduled to take effect at the end of this week. Indonesia, Vietnam and the Philippines are among the countries facing a 19 or 20 percent tariff. A 15 percent tariff rate has been negotiated with the European Union, Japan, South Korea and others. It’s ten percent for the United Kingdom. Outside of that, tariffs of 35 percent on Canadian products not covered by the USMCA trade agreement took effect Friday. Mexico has a 90-day extension to negotiate potential tariff increases and China has an August 12th timeline so those trade talks can continue. Trump is also imposing a 50 percent tariff on Brazil due to a dispute over the treatment of former Brazilian President Bolsonaro.
