Apr 10, 2025 8:50 AM IST
US Stock Market LIVE | Trump Pauses Reciprocal Tariffs But Baseline 10% Tariff Remains In Place For All Nations Including India: Sources
US President Donald Trump increased reciprocal tariffs to 125% for China, while pausing the levies for 75 countries for 90 days.
However, the baseline tariff of 10% that went into effect on April 5 remains in place on all nations, sources told CNBC-TV18.
The Section 232 tariffs on steel, aluminum, autos etc remains unchanged.
Sectoral carveouts in the reciprocal/baseline tariffs as outlined in the initial order remain unchanged
Because the EU retaliatory tariffs have not gone into effect yet, the EU’s reciprocal tariff rate of 20% is also being paused
The EU is only being tariffed at the 10% baseline that went into effect on April 5
Fentanyl tariffs on Canada and Mexico remain unchanged
USMCA trade is tariff-free, non-USMCA trade is tariffed at 25% (except for energy and potash, which is tariffed at 10%)
The baseline of 10% did not go into effect on Canada and Mexico on April 5, and neither country is getting the 10% baseline now, sources concluded.
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