Federal Update: Reciprocal Tariffs Take Effect Aug. 7

Just after midnight on the morning of Aug. 7, President Trump’s sweeping “reciprocal” tariffs took effect on dozens of international trading partners, marking another dramatic escalation of the administration’s “America First” trading policy. In April, the President’s announcement of 10% baseline tariffs across the globe startled financial markets, leading to a 90-day pause while foreign leaders attempted to negotiate more favorable trade deals. 

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