| In President Donald Trump’s campaign to reshape global commerce, it’s often seemed the only certainty is uncertainty. That’s perhaps never more been the case than now, as the hours tick toward 12:01 a.m., when the US begins imposing a slew of new tariffs on imports from dozens of countries. Although Trump laid out the country-level rates last week — ending at least one mystery that had gripped Washington and much of the world for months — there’s still plenty left unresolved. For instance, although Japan, South Korea and the European Union secured a discounted 15% rate for their automobile and auto parts exports to the US — which otherwise would be subject to 25% levies — the US has yet to codify that change. And until it does, cars imported from those countries will face the higher rate. Trump’s deals with the EU, Japan and South Korea also sidestep details that must be hammered out — including the particulars of policy changes promising more market access for American goods. Countries that don’t have deals are still courting Trump. Consider the long-shot, last-minute bid by Switzerland’s President Karin Keller-Sutter to beat back Trump’s new 39% tariff on the country’s exports. Keller-Suttler’s quest began with a flight to Washington yesterday and is set to end with a flight home this evening without a meeting with Trump. Meanwhile, Mexico has another 90 days to cut a deal, and a tariff truce with China is seen as likely to be extended beyond its Aug. 12 expiration. And Trump’s threat to impose secondary tariffs on goods from countries that buy Russian energy still looms ahead of a Friday deadline. The president already ratcheted up rates on India for consuming Russian oil. More: Read the Full List of US Tariff Rates on Global Trading Partners Trump’s latest country-level tariffs will apply to goods loaded onto vessels for transport into the US before 12:01 a.m. New York time on Thursday. But there are carve-outs for informational materials as well as donations of food, clothing and medicine. There’s also plenty more on the horizon. The stage is being set for sectoral tariffs on semiconductors, critical minerals, pharmaceuticals and other goods that Trump declared could, in some cases, rise to 250%. Tariff revenue has surged. From May through July this year, the Treasury took in $82 billion compared to less than a third of that — $24 billion — during the same three months in 2024, a 241% increase. The one certainty is that Trump likes the revenue. Some of it ultimately is expected to come from US consumers in the form of higher prices. But to Trump, it's hundreds of billions of dollars just “pouring into our country.” — Jennifer A. Dlouhy | 
