The Digester

U.S. Customs memo says a 10% worldwide tariff takes effect 12:01 a.m. ET Tuesday for 150 days, while the administration is working on a separate order to raise it to 15% under Section 122.

Customs and Border Protection notified importers the tariff will start at 10% for every country beginning 12:01 a.m. ET Tuesday and apply for up to 150 days unless exempted.
The administration plans a separate order to raise the tariff to 15% under Section 122, which allows up to 15% for up to 150 days, but no timeline was provided.
President Trump posted that he would raise the 10% tariff to 15% on Truth Social, but the CBP memo and a White House official say the initial rate will be 10%.
The shift to Section 122 follows the Supreme Court striking down most prior tariff actions taken under the International Emergency Economic Powers Act.
The European Union froze implementation of a major trade deal in response, and trading partners including India, China, Switzerland and the United Kingdom are reviewing next steps.
Companies, investors and foreign officials warn the rapid changes are increasing uncertainty for businesses and global trade

U.S. global tariff to start Tuesday at 10% as White House seeks 15% raise

Sources