The “baseline” tariff took effect at12:01 a.m. ET and applies across goods entering through US ports, airports, andbonded warehouses. According to a Customs and Border Protection (CBP) bulletin,a 51-day grace period will apply to shipments loaded before the deadline andarriving by May 27.
“This is the single biggest trade actionof our lifetime,” noted Kelly Ann Shaw, trade lawyer at Hogan Lovells andformer White House adviser, during a Brookings Institution event, asserting,“It’s a seismic shift in how the US trades with every country on earth.”
The initial 10% duty covers countriessuch as Australia, the UK, Colombia, Argentina, Egypt, and Saudi Arabia. Thebroader plan, branded “reciprocal tariffs” by the Trump administration, targetscountries with what Washington deems imbalanced trade practices.
Canada and Mexico remain exempt from thisround but continue to face 25% duties on certain goods under theUS-Mexico-Canada Agreement (USMCA), primarily tied to fentanyl control measuresand compliance with labor and origin standards.
The administration also excluded morethan 1,000 product categories—worth $645 billion in 2024—from the new tariffs.These include crude oil, refined fuels, pharmaceuticals, semiconductors,uranium, titanium, lumber, and copper. However, several of these sectors remainunder review for possible inclusion under national security provisions.
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