President Donald Trump‘s 10% baseline tariff on all imports from countries around the globe went into effect Saturday. The larger tariffs placed on 57 countries will take effect later next week.
The tariffs took effect at 12:01 a.m. ET Saturday at U.S. seaports, airports, and customs warehouses.
Trump’s announcement of the sweeping tariffs tanked the stock market on Thursday and Friday before the weekend reprieve. The S&P 500 hit its lowest point since April of 2024, dropping about 10.5% from market close on Wednesday.
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Trading adversaries have already started lining up counter-tariffs to combat Trump’s new charges. China placed a 34% counter-tariff on the U.S., and the Washington Examiner reported they backed out of a TikTok deal after the tariffs were announced. Trump then extended the
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