U.S. Customs and Border Protection decided to impose a 10% tariff under Section 122 of the Trade Act of 1974 on all non-exempt goods, effective from 12.01 am Tuesday, instead of the 15% tariff he indicated on Saturday.
The 10% rate was announced by Trump on Friday and formalized through an Executive Order. The Trump administration unveiled exemptions covering a broad range of products from the 10% tariff, along with certain imports from Canada and Mexico.
Notably, no directive has been signed to implement the proposed 15% rate.
The White House did not immediately respond to Benzinga's request for comment.
UK, EU Push Back On Tariffs, Trump Warns
The adjusted tariff was likely postponed due to resistance from multiple U.S. trading partners, including the EU and the UK, to the higher rate. On Monday, the UK warned that "nothing is off the table" in response to higher U.S. tariffs. The prime minister's office said that most elements of the UK-U.S. agreement, including tariffs on cars, steel, and pharmaceuticals, were unlikely to change, but called the situation "evolving" and confirmed that talks between the two sides are continuing, reported BBC.
Meanwhile, the EU had also urged the U.S. to respect its trade agreements and provide "full clarity." The bloc also paused the ratification of its August trade deal in the parliament.
Taiwan has also been quick to safeguard its recently negotiated trade benefits with the U.S. following the Supreme Court's decision. The country's Vice Premier Cheng Li-chiun stated that the government is in close contact with U.S. officials to ensure the preferential terms remain intact.
Trump warned global trading partners on Monday that any country trying to exploit the recent Supreme Court ruling to break trade agreements would face "much higher" retaliatory tariffs. He posted the warning on Truth Social, emphasizing that nations should not view the ruling as a loophole to exit deals.
USTR Confirms Trade Deal Stand
An analysis by Global Trade Alert on Saturday found that the UK would be among the hardest hit if a 15% global tariff is implemented, as it had secured a 10% deal with the U.S. In contrast, countries such as China, India, Vietnam, and Brazil, which already face higher tariff rates, would be relatively better positioned.
On Sunday, U.S. Trade Representative Jamieson Greer told CBS News that no partner nation has reached out to the U.S., saying "the deal's off." He also said that the White House would uphold existing trade agreements, emphasizing they were finalized independent of the Court's decision and were not contingent on its outcome.
