To the traders who are "recovering and taking a breather" to "see if the tariffs will go through":
Global markets have risen on hopes that the Trump administration will quickly negotiate away many of the reciprocal tariffs announced on April 2.
But they are set to go into effect at midnight, as planned, according to the latest guidance from Customs and Border Patrol, which oversees importing into the United States.
This morning's bulletin "GUIDANCE – Reciprocal Tariffs, April 5 and April 9, 2025, Effective Dates:" gives more detail on what importers can expect.
Effective April 9, 2025, goods from 83 specified countries will pay country-specific tariffs ranging from 11% to 50% instead of the 10% rate, according to the bulletin.
China, Hong Kong and Macau: 34%
European Union countries: 20%
Japan: 24%
South Korea: 25%
Vietnam: 46%
Importers must report specific tariff classifications under Chapter 99 of the Harmonized Tariff Schedule the bulletin says.
For articles in which at least 20% of the value of article is U.S. originating, the U.S. content will not be subject to the reciprocal tariff.