President Trump signed an executive order to raise tariffs on scores of nations, effective 12:01 a.m. on Aug. 7. 

The Wall Street Journal’s Gavin Bade writes that Trump had pledged to raise tariffs today—the end of an extended pause for negotiations on duties first imposed in April. Customs and Border Protection needs more time to update the Harmonized Tariff Schedule for the higher levies, a senior administration official said.

When the action is taken, the result will be significantly higher tariffs on virtually every U.S. trading partner. Trump set a 15% tariff with the European Union, Japan and South Korea. Nations where the U.S. has a small trade deficit would also get 15% tariffs, the senior administration official said. Nations where the U.S. runs a trade surplus would be hit with 10% tariffs.

• Trump also raised tariffs on Canada to 35% from 25%, but these duties only cover goods that aren't exempted by the U.S.-Mexico-Canada trade agreement, effectively leaving 85% of Canadian goods duty-free.
• Existing tariffs on Mexican goods were extended for 90 days, Trump said, because the complexities of a deal with Mexico were different than with other countries.

DSV is pulling back on investments along the U.S.-Mexico border because of a slowdown in trade caused by tariffs, the WSJ Logistics Report's Paul Berger writes. CEO Jens H. Lund said the Denmark-based shipping and warehousing giant has paused a planned cross-border trucking expansion and is slowing other investments pending more clarity on U.S. trade policy with Mexico.

DSV is just one of the logistics companies that have poured billions of dollars into truck terminals, rail yards and warehousing along the U.S.-Mexico border to serve rapidly growing cross-border trade. A couple of years ago, DSV doubled its warehousing capacity along the border. Last year, it tripled the size of a warehouse in Brownsville, Texas, to better facilitate the handoff of truck cargoes traveling between the U.S. and Mexico. Now, a boom in Mexican factory and logistics investments has slowed as Trump has threatened and imposed tariffs.

The automaker most reliant on U.S. manufacturing is among the hardest hit by tariffs. The Journal’s Sharon Terlep writes that Ford Motor domestically produces some 80% of the vehicles it sells here. 

The Trump administration’s trade deals with Japan, the European Union and South Korea, which set a 15% tariff rate, put Ford at a disadvantage, as the tariff on autos and parts that went into effect this spring is set at 25%. Ford also takes a hit from higher costs for imported aluminum, which it uses to make vehicles such as the F-series pickups and is subject to 50% duties.

Ford executives said they have been in near-daily talks with administration officials, who they said have been receptive to the company’s argument.

• Daimler Truck cut its full-year guidance for the second time in as many quarters, citing continued market uncertainty in North America. (WSJ)
• BMW backed its full-year guidance on sustained demand for its cars, striking a more upbeat tone than many peers. (WSJ)
• Renault said product launches and strong orders should boost volumes and second-half performance. (WSJ)
• Ferrari backed its full-year guidance and said it had no significant impact from U.S. tariffs in the second quarter. (WSJ)
• Pirelli cut its full-year revenue outlook but reiterated its profitability forecast, saying it minimized a hit from U.S. tariffs. (WSJ)

China’s official gauges of factory, services and construction activity weakened in July, signaling a potential economic slowdown after resilient growth in the first half of the year. (WSJ)

Tariffs and trade worries deflated Canada’s economy in the second quarter, though there was an uptick of activity in June. (WSJ)

Unemployment remained at historic lows in the eurozone at the end of the second quarter. (WSJ)

Amazon reported sharp increases in sales and profit, partly fueled by the growth of its cloud-computing business. (WSJ)

Apple’s iPhone sales blew past expectations as some U.S. consumers rushed to buy devices before potential price increases from tariffs. (WSJ)

C.H. Robinson shares surged on higher-than-expected earnings, with efficiencies from AI and automation aiding the logistics company’s performance. (Dow Jones Newswires)

CSX is talking with Goldman Sachs about the merits of a railroad merger, days after rivals Union Pacific and Norfolk Southern announced a $71.5 billion tie-up. (Bloomberg)

Union Pacific and Amtrak settled a dispute over delays to the Sunset Limited passenger service and asked regulators to end their investigation. (Trains.com)

Panama’s president said public-private partnerships could take over two Panama Canal ports if courts invalidate CK Hutchison’s contract to operate them. (Reuters)

Crushing by cargo is the biggest single cause of workplace death for dockworkers, making up 27% of fatalities, a study of 500 incidents over 25 years shows. (Lloyd’s List)

The U.S. Maritime Administration signed 20 contracts worth a total of $6.2 billion for management of the Ready Reserve Force fleet. (gCaptain)

Total air-cargo demand grew just 0.8% in June amid global tariff uncertainty, the International Air Transport Association said. (Air Cargo News)

South Korea’s HD Hyundai and H-Line Shipping will jointly develop AI-powered autonomous ship technologies to boost vessel and fuel efficiency. (Marine Insight)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.