Tariffs Take Effect

Today is Tariff Day 2.0.

After a four-month pause, the “reciprocal tariffs” President Trump first announced on April 2 (and paused shortly after) are taking effect. This means the import tax on goods from many countries is jumping from the 10% baseline to a higher number (most are between 15 and 45%).

So it’s back to April 2… except for all the exceptions, which include:

• New rates for dozens of countries were announced late last night
• a 90-day extension for Mexico
• 25% tariff (plus an unspecified penalty for buying Russian oil) on India
• An additional 40% tariff on any goods “transshipped” to avoid other tariffs 
• and an end to “de minimus exemption” (which exempted packages worth under $800 from tariffs)

Uncle Sam has also signed eight trade deals since April, including the E.U. last week and South Korea yesterday.

ETERNAL PERSPECTIVE
Our hope is never contingent on an economic outcome; it’s much more secure than that. Regardless of whether things get worse or better during your lifetime, everything eventually ends well for followers of Christ.

“Blessed be the God and Father of our Lord Jesus Christ. Because of his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you.” 
1 Peter 1:3-4 (CSB) (read full passage)