Today is the updated, pushed, delayed. We mean at this time tariff deadline imposed by the Trump administration.

I'm David Brancaccio in Los Angeles. The latest round of U.S. tariffs on most countries around the world are now in effect.

We're now at the highest average level of import taxes since the 1930s, all in the name of boosting U.S. jobs, raising money to pay for government spending, and exercising U.S. influence. Marketplaces, Henry Epp is here with more details.

Yeah, David, imports from countries around the globe now face taxes anywhere from 10 to over 40%. The higher end of that scale includes one of our

top trading partners, Canada, at 35%. But as we've seen for months now, the Trump administration

could still change these rates. The U.S. is still trying to negotiate agreements with China and Mexico,

for example. And even the trade partners the U.S. has reached agreements with, like the European Union and Japan, the details of those frameworks have not been fully sorted out.

And one important note, many goods coming into U.S. ports won't actually face these higher tariff rates yet.

According to Customs and Border Protection, anything loaded onto a ship and in transit

before 1201 Eastern time this morning will be taxed at a maximum of 10% as long as it arrives

before early October. All right. So a few more weeks of wiggle room for some products before

the fully tariff stuff gets to people and companies?

Yeah, that could give some companies additional time to try to blunt the impact on consumer

prices, and so far we've seen many of them try to absorb the additional tariff costs that

they've faced instead of passing it all onto consumers. But that may not last much longer.

Procter & Gamble, for example,

told investors last week it would start hiking prices on household staples. Walmart has also warned of higher prices. And overall, the Yale Budget Lab estimates that Trump's tariffs will shrink

American household incomes by about $2,400 on average, but that won't be felt equally.

Lower income households will take a larger hit to their incomes.

All right, Henry, thank you.

S&P NASDAQ futures are both up in the 7 to 8 tenths of a percent range, about two and a half hours here before markets open officially.

The key index on the Moscow stock exchange is up nearly 5 percent right now, after a Kremlin official confirmed presidents Putin and Trump will meet in, quote, the coming days. The U.S. President has been setting deadlines for Russia and Ukraine to reach a peaceful solution to the war Russia started and has lately been

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