At the stroke of midnight on Thursday Aug. 7, the world woke up to a new world trading order. Under the newly implemented Tariff plan, goods imported into the U.S. will face an average 18.6%, the highest since the Great Depression.

More details are to be worked out over the next few weeks and goods loaded into ships just before Oct. 7 are not subject to the new tariffs implying that many shipments arriving onshore all the way until October may not face them.

Talks with Mexico and China are still on while India faces an additional 25% penalty beginning Aug. 27 for its import of Russian oil.

Read more at Newsmax© 2025 Newsmax. All rights reserved.