President Donald Trump's latest tariffs are ready to launch.
Last week, Trump signed executive orders slapping tariffs of between 10% and 41% on a range of countries, but delayed their start date until Aug. 7.
The Trump administration has been aiming to strike deals with trading partners and has also held tariffs steady in talks with others, as in the case of Mexico.
Mexico, one of the U.S.'s biggest trading partners, will continue to face a 25% tariff that Trump has linked to fentanyl trafficking.
Other nations are in line for changed rates, both increased and decreased.
Switzerland, for example, faces a 39% import tax, up from its 32% level that Trump threatened at his April 2 "liberation day" event.
Taiwan, on the flip side, is looking at a lower rate of 20% versus the April 2 level of 32%.
Trump's order covers nations from Afghanistan to Zimbabwe (both 15% tariffs). Big trading partners like the European Union and Japan - both of which have reached trade deals with the U.S. - are facing 15% tariffs as well.
Even as the fresh deadline looms, Trump and White House officials continue to engage with officials from nations around the world on tariffs in the hope of striking deals. As of Wednesday morning, a top Trump aide said Switzerland was negotiating with the U.S.
"We've got Switzerland coming in and trying to renegotiate their tariffs, and we'll see how it goes," White House National Economic Council Director Kevin Hassett told Fox Business Network.
The so-called reciprocal tariffs due to kick in tomorrow are separate from what are known as sectoral tariffs targeting specific industries, such as automobiles and steel and aluminum. Trump on Tuesday threatened the pharmaceutical industry XPH with levies as high as 250% in a bid to compel drug manufacturing in the U.S.
Now see: Trump threatens drugmakers with 250% tariffs. Here's when higher levies could come.
As MarketWatch previously reported, analysts expect Trump to announce updated tariffs for the semiconductor industry SMH in the near future. Those could impact Apple Inc. $(AAPL)$, since the company sells hardware and relies on chip components.
Apple's stock was up nearly 6% in Wednesday trading, with investors seemingly hopeful that the company could avoid the most painful tariff scenario by appeasing Trump with new investments in the U.S. Apple shares have fallen about 14% this year, weighed down in part by uncertainty around tariffs.
China, meanwhile, isn't among the countries to face a new tariff tomorrow. A trade truce with Beijing is set to end Aug. 12, though White House and Chinese officials have made positive comments about extending the truce.
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