The Trump administration imposed a new round of tariffs on 60 trading partners early Friday, setting rates between 10% and 12.5% on some of the largest economies in the world, according to NBC News.
Starting at 12:01 a.m. ET, the new rates went into force in place of a temporary 10% tariff that lapsed at midnight. Among the economies subject to the lower 10% rate are Canada, Mexico, India, and the U.K.; Taiwan and the E.U. are set for duties reaching as high as 12.5%, according to NBC News. The E.U. rate appears to lower the 15% cap that President Donald Trump and European Commission President Ursula von der Leyen had agreed upon previously.