Become a Vogue Business Member to receive unlimited access to Member-only reporting and insights, our Beauty and TikTok Trend Trackers, Member-only newsletters and exclusive event invitations.
On 1 August, fashion brands, retailers and manufacturers were once again scrambling to make sense of what are — allegedly — the United States’s final, confirmed tariff rates. After months of delays, these rates were effective as of 7 August, from midnight. (China tariffs, though, were not implemented until 12 August.)
This clarity was meant to come into force on 9 July, the original date on which the US administration was scheduled to enact confirmed global tariff rates. But on 6 July, the Trump administration announced that they would be extending this deadline to 1 August. At the time, officials said that this was not a new deadline for negotiations. But since then, multiple countries have renegotiated their levies. Many countries are still without deals, meaning they will be subject to the administration’s baseline reciprocal tariffs.
Earlier this month, President Donald Trump said that the baseline tariff would fall between 15 and 20 per cent. This is higher than the 10 per cent baseline reciprocal tariff originally announced as part of the President’s ‘Liberation Day’ tariffs. At 8pm ET before the midnight deadline, though, the White House released a new tariff plan, which confirmed that the baseline tariff rate will remain at 10 per cent.
Some final, updated tariff rates are staggeringly high. Syria has one of the highest tariffs at 41 per cent, followed by Laos and Myanmar at 40 per cent; and Switzerland at 39 per cent. The White House also confirmed that President Trump will raise tariffs on Canada from 25 to 35 per cent, as Trump had threatened to do earlier in the day, posting to Truth Social that Canada’s support of Palestinian statehood would impact its trade negotiations.
Even after the deadline, rates continue to change as negotiations continue. As of 7 August, India is now faced with a 50 per cent tariff. After announcing a 25 per cent tariff on the country, Trump doubled the rate, with the extra 25 per cent ‘secondary tariff’ going into effect on 27 August after India failed to negotiate a lower rate. The secondary tariff is a penalty for purchasing Russian oil, in a bid to steer India away from Russian relations. With exemptions made for exports like electronics and pharmaceuticals, the 50 per cent tariff is set to land its biggest blow on the textiles and jewellery industries. Indian officials said that the country would retaliate, further straining the trade relationship between the US and India.