New U.S. Tariffs on 60 Economies Take Effect as Stocks Look to Stabilize

A new round of U.S. tariffs covering roughly 60 trading partners took effect Friday morning, with duties of 10% to 12.5% applied to goods representing about 99.4% of U.S. imports. The measures, built on Sections 301 and 232 authority as the temporary Section 122 tariffs expire, cap EU and Taiwan duties at 10% and Swiss and Japanese goods at 12.5%.

The rollout lands after a rough Thursday on Wall Street: the S&P 500 fell 1.2%, the Dow lost about 507 points, and the Nasdaq dropped 2.2% as surging oil prices and concerns over rising AI capital spending at megacap tech companies weighed on sentiment. Friday futures pointed modestly higher, with Dow futures up about 0.5%.

Tariff-sensitive retailers and importers, including Walmart and Nike, will be watched closely as investors gauge how much of the new duty burden flows through to costs and consumer prices in the second half.