Trump's global tariff to take effect at 10%, despite announcement of 15%
NBC News
The back-and-forth underscores the uncertainty of Trump's tariffs that is once again causing confusion with markets, trading partners, and businesses large and small.
President Donald Trump's reworked global tariffs will begin Tuesday at a rate of 10%, even though he said over the weekend that they would start at 15%.
On Friday, after the Supreme Court struck down most of Trump's tariff agenda, he announced that he would quickly implement a 10% flat tariff for all trading partners using a different trade law.
One day later, Trump posted on Truth Social that "effective immediately" he would be "raising the 10% Worldwide Tariff ... to the fully allowed, and legally tested, 15% level."
Under the trade law the administration is now turning to, called Section 122, tariffs of up to 15% can be quickly applied, but only for up to 150 days.
Hours before the sweeping tariff was set to take effect, U.S. Customs and Border Protection sent a memo informing importers that the rate would be 10% at first and that it would apply to "every country for a period of 150 days, unless specifically exempt," starting at 12:01 a.m. ET Tuesday.
Major airlines and millions of U.S. travelers are facing a rare set of challenges this spring are making it more costly and less convenient to fly.
U.S. crude oil passed $100 per barrel Sunday, continuing its surge despite efforts by the Trump administration and allied countries to slow rising prices.
Americans are poised to receive bigger refunds when they file their taxes this year than they did in 2025, due to changes in the tax code
The ongoing war in Iran is disrupting fertilizer shipments through the Strait of Hormuz, raising farmers' costs and pushing food prices higher.
The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at a sluggish 0.7% annual rate from October through December, the Commerce Department reported Friday in a big downgrade of its initial estimate
The price of oil jumped more than 7%, as the war on Iran was "creating the largest supply disruption in the history of the global oil market."
An Iran-linked hacker group has claimed responsibility for a cyberattack on a medical tech company in what appears to be the first significant instance of Iran’s hacking an American company since the start of the war between the countries
The Consumer Price Index for the month of February is expected to show that prices rose only slightly right before the Iran war sent energy costs skyrocketing.
A federal judge ordered Live Nation to engage in settlement talks with a group of state attorneys general who accuse the live entertainment behemoth of illegally dominating the industry.
An Ohio federal judge on Monday said she's obligated to "avoid absurdity" and ruled that Kalshi's prediction markets in sports amount to acts of gambling — which should come under state regulations
A drop in oil prices slowed after Defense Secretary Pete Hegseth warned the day would be America's "most intense day of strikes inside Iran."
Uber launched a feature Monday to allow both women riders and drivers across the U.S. to be matched with other women for trips, expanding a pilot program aimed at addressing concerns about the safety of its ride-hailing platform.
The price of oil surged Monday, as the effects of the Iran war hit markets worldwide and stoke fresh worries about inflation.