Schwab’s main investment strategist Liz N Sonders shared how investors should reach the market after a large -scale hit on ‘Baron’s RoundTable’ on President Donald Trump’s tariff announcement.
chairman Donald Trump’s Unilateral 10% tariff on all imports of many countries came into effect on Saturday, collecting US customs agents.
The initial 10% “baseline” tariffs effective in US CILS, airports and customs warehouses on ET at 12:01 pm. High taxes on goods from 57 large business partners are determined to start next week.
On Wednesday, Tariff’s Trump’s announcement shook the global stock markets, cutting the stock market price $ 5 trillion for S&P 500 companies around Friday, marking a record two-day drop. The prices of oil and goods also took a nozzle.
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President Donald Trump’s unilateral 10% tariff came into effect on all imports in many countries on Saturday. (Andrew Harnik / Getty Image / Getty Images)
Australia, Britain, Colombia, Argentina, Egypt and Saudi Arabia were in countries that were first slapped with 10% tariffs. According to shippers to the US customs and border security bulletin, there is no grace period for cargo on water at midnight on Saturday.
An US customs and border security bulletin, however, offered a 51-day ex-gratia period for cargo loaded on ships or aircraft and in transit in the US before 12:01 pm on Saturday. These cargo should reach ET on May 27 at 12:01 to avoid 10% tax.
Trump’s high “mutual” tariff rate ranges from 11% to 50%, determined to be effective on Wednesday. The import of the European Union will face 20% tariff, while the Chinese goods will be hit with 34% tariffs, bringing the trump Total new taxes on China Up to 54%.
Trump’s high “mutual” tariff rate ranges from 11% to 50%, determined to be effective on Wednesday. (Chip Somodeville / Getty Image / Getty Image)
Vietnam would be hit with 46% tariff and agreed to interact with Trump on Friday. The country benefited from the shift of American supply chains away from China after Trump’s trade war with Beijing during his first term.
Canada and Mexico were exempted from Trump’s latest levy as they are still subject to 25% tariffs for goods that do not follow the American-Maxico-Canada rules of origin.
Separate, 25% national security tariffs, including steel and aluminum, car, trucks and auto parts, are not covered by new tariffs.
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There seems to be no grace period for cargo on water at midnight on Saturday. (Reuters / Reuters Photos)
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The administration also released a list of more than 1,000 product categories released from tariffs including crude oil, petroleum products and other energy imports, pharmaceuticals, uranium, titanium, wood and semiconductor and copper. These product categories were given importance $ 645 billion in 2024 imports,
With the exception of energy, the administration is investigating many of these areas for additional national security tariffs.
Reuters contributed to this report.
