ON DECK:
- More implementation of the U.S.-China deal, but still some confusion on rare earths
- U.S., South Korea release joint fact sheet detailing deal
- U.S. announces framework deals with Argentina, Ecuador, El Salvador, Guatemala
- U.S. announces framework deal with Switzerland
- The WTO is not quite dead yet
- Renewed skirmishes could threaten Cambodia, Thailand deals; EU wants deal implementation checklist to prevent new demands; biggest Indian refiners not buying Russian oil in December; Mexico postpones China tariffs
- What we know and don’t know about potential food tariff liftings
- Wait for SCOTUS decision filled with more negotiations, speculation about what might replace IEEPA if it’s struck down
DISCLAIMER: The below is intended to inform, not to be construed as an official statement from the office of Rep. Yakym
Tidbits
Red Light/Green Light
Ok so I had a running tally of U.S.-China commitments last week and I’m just going to reup that but bold the new news.
The U.S. has four action items, and I’ll put any implementations in a sub-bullet:
- Lower, effective November 10, the IEEPA fentanyl tariff from 20% to 10% and maintain until November 10, 2026 the current IEEPA reciprocal rate of 10%
- Proclamation and Federal Register notice lowering the IEEPA fentanyl tariff
- Proclamation and Federal Register notice maintaining the IEEPA reciprocal rate
- Extend until November 10, 2026 the Section 301 exclusions that are set to expire November 29, 2025
- Haven’t seen this one come across the transom yet
- Suspend for one year, effective November 10, the implementation of the interim final rule Expansion of End-User Controls To Cover Affiliates of Certain Listed Entities
- Federal Register notice implementing one-year suspension
- Suspend for one year, effective November 10, the implementation of the Section 301 China shipbuilding fees
- Federal Register notice soliciting comments for 29 hours (comment docket with 73 comments)
- Federal Register notice implementing one-year suspension
China has ten action items, with stories confirming implementation in a sub-bullet:
- Suspend the global implementation of the rare earth export controls announced October 9
- Issue general licenses for exports of rare earths, gallium, germanium, antimony, and graphite for the benefit of U.S. end users and their suppliers around the world, which have been subject to controls since 2023
- Restrictions lifted on gallium, germanium, antimony, and graphite
- Talks still ongoing on rare earths
- Stop shipment of certain designated chemicals involved in fentanyl to North America and strictly control exports of certain other chemicals to all destinations in the world
- Restrictions on export of 13 precursor chemicals to U.S., Mexico, and Canada
- Suspend all retaliatory tariffs announced since March 4
- Retaliatory tariffs removed from ag products and others
- Suspend or remove non-tariff announced since March 4
- Companies removed export control list and unreliable entity list
- Purchase at least 12 million metric tons (MMT) of soybeans in 2025 and 25 MMT in 2026-2028; resume purchases of sorghum and hardwood and softwood logs
- Take appropriate measures to ensure resumption of trade from Nexperia’s China facilities
- Remove retaliation for Section 301 China shipbuilding fees
- Extend expiration of its market-based tariff exclusion process for U.S. imports, with exclusions valid until December 31, 2026
- Couldn’t find an article saying this was implemented, doesn’t necessarily mean it hasn’t been
- Terminate antitrust, anti-monopoly, and antidumping investigations targeting American companies in the chip supply chain
- Couldn’t find an article saying this was implemented, doesn’t necessarily mean it hasn’t been
The Commerce Department also made some Entity List revisions, which didn’t seem to fit in any specific action item, but it’s effective on November 10, so it appears related to the deal. Democrats also generallycriticized the Administration for its concessions.
The rare earth space seems to still be on uncertain footing too. The Chinese may create a “validated end-user” system that would allow for the flow of rare earths (yay) but exclude companies with ties to the U.S. military (hmm).
A few other stories to note on the China front:
- Chinese companies are being squeezedby a chips shortage
- GM is directingits suppliers to scrub their supply chain of Chinese parts
- The House Select Committee on the Chinese Communist Party released a bipartisan reporttitled, “Predatory Pricing: How the Chinese Communist Party Manipulates Global Mineral Prices to Maintain Its Dominance”
- Chinese renewables are floodingthe developing world
- Chinese consumptionand investment figures came in lackluster
Word emerged overnight that the U.S. and South Korea finalized a fact sheet and signed a memorandum of understanding (MOU) on the $350 billion investment fund.
The Joint Fact Sheet posted to the White House website lays out the following:
- South Korean investments in “various sectors,” including shipbuilding, energy, semiconductors, pharmaceuticals, critical minerals, and AI/quantum computing; $150 billion of that is in shipbuilding and the rest is laid out pursued to the aforementioned MOU
- The MOU spells out some foreign exchange and market stability commitments, described further down
- Industry Minister Kim Jung-kwan said that the MOU would not require parliamentary approval because it’s “nonbinding”
- On shipbuilding, the two sides will establish a shipbuilding working group to focus on various aspects of the industry
- There’s a mention of U.S. approval for South Korea to build a nuclear submarine, but reports suggest that they will be jointly built for both navies, which goes further than the language in the Joint Fact Sheet (the Wall Street Journal took a look at the challenges of this task too)
- South Korea’s IEEPA reciprocal tariff rate will be the higher of: The U.S.-Korea Free Trade Agreement (KORUS) tariff rate, the U.S. most favored nation (MFN) tariff rate, or 15%
- Section 232 tariffs have a number of changes
- Autos and Auto Parts: Products with a KORUS and/or MFN tariff rate under 15% are trued up to 15%; products over 15% face no additional tariff
- Timber and Lumber: Products with a KORUS and/or MFN tariff rate under 15% are trued up to 15%; products over 15% face no additional tariff
- Pharmaceuticals: Tariff rate no greater than 15%
- Chips: Terms “no less favorable than terms that may be offered in a future agreement covering a volume of semiconductor trade at least as large as Korea’s, as determined by the United States”
- No reciprocal tariffs on South Korean imports on Annex III
- No tariffs on South Korean imports of certain aircraft and aircraft parts
- The August purchase announcement by Korean Air of 103 Boeing aircraft is highlighted (not clear if that’s part of the $200 billion in purchases or not)
- South Korea will organize, in collaboration with state governments an annual exhibition of American companies, especially small- and medium-sized enterprises, to promote exports
- South Korea will eliminate the 50,000-unit cap and other emissions certification requirements on auto imports compliant with U.S. regulations
- South Korea will work with the U.S. to address ag non-tariff barriers
- Trade Minister Yeo Han-koo said that there would be a minister-level meeting on this topic later this year
- The U.S. and South Korea will commit to ensure no digital services barriers, including network usage fees, online platform regulations, and cross-border transfer of data
- Highlighting this story that South Korea delayed exporting digital mapping data again, drawing the ire of the tech industry
- South Korea will ensure recognition of attorney-client privilege in competition proceedings
- The U.S. and South Korea will work together to protect intellectual property rights, with South Korea accede to the Patent Law Treaty
- The U.S. and South Korea will work together to protect internationally-recognized labor rights, including combatting forced labor
- The U.S. and South Korea reaffirm the importance of environmental protection, including enforcing environmental laws and enforcing the WTO Agreement on Fisheries Subsidies
- The U.S. and South Korea will cooperate on duty evasion, unfair and non-market policies and practices, inbound and outbound investment regulations, and procurement
- South Korea will purchase $25 billion in military equipment by 2030
- There are a few non-trade provisions, including increasing military spending to 3.5% GDP, North Korea cooperation, and others
Let’s Ameri-gooooo
In addition to the South Korea Joint Fact Sheet, we got a quartet of Central and South American framework announcements covering Argentina (Framework and Fact Sheet), Ecuador (Framework and Fact Sheet), El Salvador (Framework and Fact Sheet), and Guatemala (Framework and Fact Sheet).
Let’s take a look at each.
Argentina
- Argentina will provide preferential market access for U.S. medicines, chemicals, machinery, information technologies products, medical devices, autos, and ag products
- Ag products include live cattle, poultry, pork, and dairy
- The U.S. will remove reciprocal tariffs on Annex III products
- The U.S. will “positively consider” this agreement on national security as it pertains to Section 232 investigations
- The U.S. and Argentina commit to improving beef market access
- Argentina “has” dismantled non-tariff barriers and committed not to require consular formalities for U.S. exports
- Argentina will phase out its statistical tax on U.S. goods
- Argentina will align with international standards in certain industries, including autos, medical devices, and pharmaceuticals
- Argentina will continue to improve counterfeit and pirated good enforcement
- Argentina will address structural challenges in USTR’s Special 301 Report
- Argentina reaffirms its commitment to internationally-recognized labor rights and will combat forced labor
- Argentina will combat illegal logging and implement the WTO Agreement on Fisheries Subsidies
- The U.S. and Argentina will combat non-market policies and practices of other countries and cooperate on export controls, investment security, and duty evasion
- The U.S. and Argentina will facilitate investment and trade in critical minerals
- The U.S. and Argentina will work to facilitate the global soybean trade
- Argentina will address distortionary actions of state-owned enterprises
- Argentina will facilitate digital trade, including cross-border data flows, and refrain from discriminating against U.S. digital services or digital products
Ecuador
- Ecuador will reduce or eliminate tariffs on machinery, health products, ICT goods, chemicals, autos, and ag products
- Ecuador will establish tariff-rate quotas on certain ag products
- The U.S. will remove reciprocal tariffs on Annex III products
- The U.S. and Ecuador will work to remove non-tariff barriers, including in agriculture import licensing and facility registration; geographic indications; trade facilitation; intellectual property issues identified in USTR’s Special 301 Report; labor; environment; and advertising services
- Ecuador will refrain from imposing digital services taxes and support a permanent e-commerce duty moratorium at the WTO
- The U.S. and Ecuador will cooperate on supply chain resilience and non-market policies and practices, including duty evasion, investment security, and export controls
El Salvador
- El Salvador will address a “wide range of non-tariff barriers,” including regulatory approvals for pharmaceuticals and medical devices; import restrictions on remanufactured goods; auto standards; free sale requirements; electronic certificates; apostille requirements; and product registration requirements
- El Salvador will address barriers to U.S. ag products, including on geographical indications
- El Salvador will move forward on certain intellectual property treaties
- El Salvador will refrain from imposing digital services taxes and support a permanent e-commerce duty moratorium at the WTO
- El Salvador will adopt and implement good regulatory practices
- El Salvador will protect internationally recognized labor rights and combat forced labor
- El Salvador will adopt and maintain high levels of environmental protection, combat illegal logging, wildlife trade, and mining, and work toward accepting the WTO Agreement on Fisheries Subsidies
- El Salvador will address distortionary actions of state-owned enterprises
- The U.S. and El Salvador will cooperate on supply chain resilience and non-market policies and practices, including duty evasion, procurement, investment security, and export controls
- The U.S. will remove reciprocal tariffs on Annex III products, as well as certain CAFTA-DR textiles
- The U.S. will “positively consider” this agreement on national security as it pertains to Section 232 investigations
Guatemala
- Guatemala will address a “wide range of non-tariff barriers,” including regulatory approvals for pharmaceuticals and medical devices; import restrictions on remanufactured goods; auto standards; free sale requirements; electronic certificates; apostille requirements; and product registration requirements
- Guatemala will address barriers to U.S. ag products, including on geographical indications
- Guatemala will address intellectual property issues identified in USTR’s Special 301 Report
- Guatemala will refrain from imposing digital services taxes and support a permanent e-commerce duty moratorium at the WTO
- Guatemala will take actions to implement the WTO Joint Initiative on Services Domestic Regulation
- Guatemala will adopt best practices in customs and good regulatory practices
- Guatemala will protect internationally recognized labor rights and combat forced labor
- Guatemala will adopt and maintain high levels of environmental protection, combat illegal logging, wildlife trade, and mining, and fully implement the WTO Agreement on Fisheries Subsidies
- Guatemala will address distortionary actions of state-owned enterprises
- The U.S. and Guatemala will cooperate on supply chain resilience and non-market policies and practices, including duty evasion, procurement, investment security, and export controls
- The U.S. will remove reciprocal tariffs on Annex III products, as well as certain CAFTA-DR textiles
Just Fondue It
Well I’d written a whole section about how there was some momentum for a deal with Switzerland and then USTR just…tweeted it out.
But let’s back up really quickly to set the stage (and since I already wrote it out). The Swiss business delegation that visited last week broke some things loose. Per a LinkedIn(?) post, Vice President Guy Parmelin and State Secretary for Economic Affairs Helene Budliger Artieda had a virtual call with USTR Jamieson Greer on Friday. Frankly, the post itself was pretty dry for being on LinkedIn post, noting a “very constructive conversation.” They could’ve at least tossed in a: “My worst day was August 1 when I got a 39% tariff rate, but I didn’t dwell on it. I pulled myself up by my lederhosen and kept at it. Today, I had a very constructive conversation etc. etc.”
But I digress.
The virtual call was almost immediately followed up by a mid-week visit from the two Swiss officials as they signaled their government had agreed to a memorandum of understanding covering as-yet-unknown details. VP Parmelin told reporters that talks this week “clarified virtually everything” and said there’d be future communications when all is “finally clear.” And while, an anonymous U.S. official told Bloomberg ahead of the meeting that a deal could be reached in as little as two weeks, we got it today.
Here’s the Joint Statement and Fact Sheet, and let’s dig in:
- Switzerland will increase investment in the U.S. by $200 billion over five years “across all 50 states,” especially in manufacturing and R&D. Liechtenstein will increase investment in the U.S. by $300 million and increase by 50% over five years the number of jobs in the U.S. Both aim to complete 33% of the promised investments by the end of 2026. The U.S. will assess progress and adjust tariffs accordingly.
- Switzerland and Liechtenstein will encourage companies to promote training and apprenticeship programs in the U.S.
- Switzerland and Liechtenstein will work with the U.S. to address distortions due to industrial subsidies and state-owned enterprises.
- The U.S. will apply the same tariff treatment to both Switzerland and Liechtenstein.
- You may recall there’d been a weird situation on August 1 where Switzerland got a 39% tariff, while Liechtenstein got 15% – the problem being that the two have been in a customs union since 1923, with essentially no distinction in trade between the two. This necessitated some clarifications.
- Switzerland and Liechtenstein will lower to zero tariffs on all U.S. industrial goods, seafood, and certain ag products, with tariff-rate quotas for other ag products.
- The U.S. will apply the higher of the most favored nation (MFN) tariff rate or 15%.
- The U.S. will apply no reciprocal tariffs to products on Annex III.
- The U.S. will ensure that Section 232 pharmaceutical and chip tariffs do not exceed 15%.
- All three parties will ensure benefits accrue predominantly to the three and not other parties.
- All three parties will cooperate on transshipment and circumvention.
- The U.S. and Switzerland will recognize each other’s conformity assessment bodies.
- All three parties will apply the WTO standards to international standards and will negotiate provisions clarifying their understanding.
- Switzerland will work with the U.S. to facilitate recognition of U.S. motor vehicle safety standards.
- All three parties will advance cooperation in strategic sectors, including medical devices, and including accepting medical devices cleared by the FDA.
- The U.S. and Switzerland will work to address beef, poultry, bison, and dairy market access issues.
- All three parties will discuss robust intellectual property protections, including vis-à-vis geographic indications.
- Switzerland and Liechtenstein will consider additional market access for service suppliers.
- All three parties will increase cooperation on labor issues, including child and forced labor.
- All three parties will negotiate commitments on good regulatory practices.
- All three parties reaffirm commitments under the WTO Agreement on Government Procurement.
- The U.S. and Switzerland will work to smooth customs processing.
- Switzerland and Liechtenstein will refrain from imposing digital services taxes, facilitate cross-border data flows, address data localization, promote interoperability in privacy frameworks, and support a permanent moratorium on e-commerce duties at the WTO.
- All three parties will address non-market policies of third countries, including with export controls, sanctions, inbound investment, and other supply chain resilience issues.
I’m Not Just Fine, I’m WTOk
Let’s take a step back having gone through the week’s major White House trade announcements this week to talk through something I’ve harped on in the past. All these fact sheets and frameworks have something in common: The WTO. For all the saber-rattling and money withheld (and later paid), commitments to join or implement this or that WTO agreement keep popping up in these agreements.
In fact, I’m going to just enumerate a few of those mentions here just because. This is not exhaustive, but here are some direct mentions of WTO commitments in various country agreements. I’m leaving out commitments on things like procurement or aircraft where WTO agreements exist but for which the WTO agreement isn’t specifically called out:
Partner | Document | WTO Mention(s) |
Argentina | Fully implement the Agreement on Fisheries Subsidies | |
Cambodia | Not contest certain measures at the WTO; unconditionally support a permanent moratorium on e-commerce duties | |
Ecuador | Fully implement the Agreement on Fisheries Subsidies; support a permanent moratorium on e-commerce duties | |
El Salvador | Work toward accepting the Agreement on Fisheries Subsidies; support a permanent moratorium on e-commerce duties | |
The EU | Seek a permanent moratorium on e-commerce duties | |
Guatemala | Fully implement the Agreement on Fisheries Subsidies; support a permanent moratorium on e-commerce duties; implement the Joint Initiative on Services Domestic Regulation | |
Indonesia | Support a permanent moratorium on e-commerce duties; implement the Joint Initiative on Services Domestic Regulation; accept and fully implement the Agreement on Fisheries Subsidies | |
Japan | No tariffs on products under the Agreement on Trade in Civil Aircraft | |
Malaysia | Recognize rights and obligations under the WTO Agreement on Technical Barriers to Trade; recognize rights and obligations under the WTO vis-à-vis sovereign rights on essential security; commit not to contest certain measures at the WTO; support a permanent moratorium on e-commerce duties; footnotes also clarify that import licensing terms mean the Agreement on Import Licensing Procedures and that intellectual property terms are as defined in the Agreement on Trade-Related Aspects of Intellectual Property Rights | |
South Korea | Fully implement the Agreement on Fisheries Subsidies | |
Switzerland and Liechtenstein | Determine standards within certain provision of the Agreement on Technical Barriers to Trade; reaffirm commitments under the Agreement on Government Procurement; support a permanent moratorium on e-commerce duties | |
Thailand | Accept and fully implement the Agreement on Fisheries Subsidies; support a permanent moratorium on e-commerce duties |
News from the Rest of the World
- Brazil: Foreign Minister Mauro Vieira met with Secretary of State Marco Rubio to discuss (per a State Department release) “a reciprocal framework for the U.S.-Brazil trade relationship.” Minister Vieira told reporters that the U.S. is analyzing bilateral issues and will give an answer “very soon, tomorrow or next week.”
- Cambodia: Renewed border skirmishes with Thailand could threaten trade progress.
- The EU: The EU wanted to create a checklist of implementation for a deal to prevent new U.S. demands on other regulations from clouding progress. Officials want the checklist to comprise three principles: It’s linked to the Joint Statement, obligations are reciprocal, and implementation can be decided later.
- India: President Donald Trump told reporters he’d reduce India’s tariff “at some point” as the five largest Indian refiners reported no orders for Russian oil in December. Commerce Minister Piyush Goyal said India would not compromise on “the interests of our farmers, fishermen, workers, labour, and the dairy sector.” Upcoming elections in the state of Bihar could give Prime Minister Narendra Modi the space to make some ag-related concessions.
- Italy: The Wall Street Journal picked up on an anti-dumping and countervailing duty (AD/CVD) case that’s caught my eye for a while: pasta from Italy.
- Mexico: President Claudia Sheinbaum delayed her plan to impose tariffs on China until at least December due to opposition from the business community and her own party. USTR initiated another USMCA Rapid Response Labor Mechanism dispute. Rep. Jodey Arrington (R-TX) introduced H.R. 5926, the Mexican Energy Trade Enforcement Act, which would, per a press release, require USTR to initiate a USMCA dispute against Mexico’s energy policies.
- Thailand: The Thai government is moving to increase its feed corn quota and cut others tariffs as it works to implement preliminary commitments outlined in its Framework. But renewed border skirmishes with Cambodia could threaten trade progress as Prime Minister Anutin Charnvirakul said he would prioritize the interests of the Thai people over trade talks.
- Vietnam: Trade Minister Nguyen Hong Dien visited DC this week as the two sides seek to finalize a trade agreement. Talks reportedly centered on U.S. tariff exemptions for products like coffee and Vietnam’s market access for cars and ag. An anonymous official of unspecified nationality told Reuters that the Vietnamese want to wait until after SCOTUS rules on the IEEPA tariffs before agreeing to anything.
Food Glorious Food
Treasury Secretary Scott Bessent said Wednesday that the Administration would be looking at cutting tariffs on “coffee…bananas, other fruits, things like that.” But we don’t have any paper on this yet, so it’s not clear how this will go down. In the meantime, we’re left with a bunch of stories about it.
The New York Times characterized the move as “broad exemptions” to reciprocal tariffs, including countries that don’t have a trade deal yet. The NYT adds beef and citrus to the list of products too. It further reports that Commerce Secretary Howard Lutnick has been among those pushing for food item exemptions.
USTR Jamieson Greer pointed out to reporters that Southeast Asia and South America supply a lot of coffee, cocoa, bananas, and other products. So it’s *possible* that some of the deals announced this week do count, even if other cuts are announced. Indeed, the article linked at the beginning of this paragraph says, “Exemptions are expected to exceed the carve-outs included in framework trade agreements the US announced Thursday with Argentina, Guatemala, El Salvador and Ecuador.”
And finally, I was about to hit send but just caught a Bloomberg story saying an order will be signed today covering beef, tomatoes, coffee, and bananas.
Maybe we’ll have some better clarity on this come next week. Until then, that’s kinda where things stand.
Courtside Seats
The SCOTUS arguments are over, and now the waiting game begins. No one really knows when a ruling could come down. USTR Jamieson Greer had speculated last week it could be before the end of the year, while others think it could get pushed to next year. In the meantime, President Donald Trump truthed gripes about the inconsistencies of what IEEPA may and may not empower him to do, as well as the true dollar value of the tariffs.
That said, folks are under no illusions that striking down the tariffs just means other sections of code get dusted off. National Economic Council Director Kevin Hassett floated Sections 301 and 122 this week.
But while we await a decision, the White House is full steam ahead on deals, as you saw above. Not everyone’s on board, though – see this article about Vietnam negotiations that says they “ideally” want to wait until SCOTUS rules before finalizing a deal.
Quick Hits
- The Senate Finance Committee will hold a session next Wednesday to advance the nominations of Jeffrey Goettman as Deputy USTR and Julie Callahan as USTR Chief Agricultural Negotiator
- The Houthis announced a pause on attacks in the Red Sea, though one analyst cautioned that “carriers need far more assurance…and, perhaps more importantly, so do insurance companies”
- The WTO’s roadmap for its next ministerial meeting in March 2026 notes a focus on WTO reform
- Bills were introduced in the House – H.R. 5917 by Reps. Carol Miller (R-WV) and Jimmy Panetta (D-CA) – and Senate – S. 3103 by Sens. Steve Daines (R-MT), Chris Murphy (D-CT), Jim Risch (R-ID), and Jeanne Shaheen (D-NH) – to repeal Jackson-Vanik trade restrictions
- The Department of Justice appealed a Court of International Trade (CIT) ruling that struck down the solar anti-dumping and countervailing duty tariff “holiday” implemented under former President Joe Biden
Tarif-Fone
Tarif-Fone
Let me know if I missed anything. It’s not unpossible. IEEPA tariffs struck down by courts but in place pending appeal are italicized. There are lawsuits pending on some of the other IEEPA actions, but those have separate circumstances and arguments and may not be struck down themselves. I’m keeping the due date for the pharma 232 until we have something firmer.
Trade Actions in Effect | ||||
As of | Who | What | Rate | Authority |
2/4/25 | China | 10% (20% from 3/4/25-11/10/25; 10% from 2/4/25-3/3/25) | ||
3/4/25 | Canada | 35% (25% from 3/4/25-7/31/25) | ||
3/4/25 | Mexico | 25% | ||
3/12/25 | All countries | 50%; UK at 25% (25% for all countries from 3/12/25-6/4/25) | ||
3/12/25 | All countries | 50%; UK at 25% (25% for all countries from 3/12/25-6/4/25; was 10% prior to 3/12/25) | ||
4/2/25 | Countries importing Venezuelan oil (currently none) | 25% | ||
4/3/25 | All countries | 25% | ||
4/4/25 | All countries | 25% | ||
4/5/25 | Countries not on this list (minus Canada, China, Cuba, North Korea, Russia, Belarus) | 10% | ||
4/9/25 | China | 10% (was 125% from 4/10/25-5/3/25; was 84% on 4/9/25) | ||
5/2/25 | China, Hong Kong | N/A | ||
5/3/25 | All countries | 25% | ||
6/23/25 | All countries | Tariffs on steel derivatives (mostly appliances) | 50% (25% for UK) | |
8/1/25 | All countries | 50% | ||
8/6/25 | Brazil | 40% | ||
8/7/25 | ||||
8/18/25 | All countries | Tariffs on steel and aluminum derivatives | 50% (25% for UK) on steel or aluminum content; IEEPA rate applicable to country on non-steel or aluminum content | |
8/27/25 | India | 25% | ||
8/29/25 | All countries | N/A | ||
10/14/25 | All countries (minus EU, Japan, UK) | 10% or 25%, depending on product | ||
Effective 11/1/25 | All countries | 10% or 25%, depending on the product | ||
Coming Attractions | ||||
Status | Who | What | Rate | Authority |
Effective 10/1/25(?) | All countries (probably) | 100% unless construction ongoing | ||
Due 10/28/25 | All countries | Inclusions process for Section 232 copper | ||
Comments due 11/19/25 | Nicaragua | 100% | ||
Expires 11/29/25 | China | Certain Section 301 China tariff exclusions | 7.5% or 25% | |
Comments due 12/1/25 (hearing 12/16/25; action due 10/24/26) | China | TBD | ||
Due 12/10/25 (hearing was 3/11/25) | China | TBD | ||
Due 12/27/25 (comments due 5/7/25) | All countries (probably) | TBD | ||
Due 12/27/25 (comments due 5/7/25) | All countries (probably) | TBD | ||
Effective 1/1/26 | All countries (minus EU, Japan, UK) | 10%, 30%, or 50% depending on product | ||
Due 1/20/26 (10/22/25 possible too) (comments due 5/16/25) | All countries (probably) | TBD | ||
Due 1/26/26 (comments due 6/3/25) | All countries (probably) | TBD | ||
Due 3/28/26 (comments due 8/6/25) | All countries (probably) | TBD | ||
Due 3/28/26 (comments due 8/6/25) | All countries (probably) | TBD | ||
Due 5/10/26 (comments due 9/9/25) | All countries | TBD | ||
Due 5/30/26 (comments due 10/17/25) | All countries | Personal Protective Equipment, Medical Consumables, and Medical Equipment, Including Devices | TBD | |
Due 5/30/26 (comments due 10/17/25) | All countries | TBD | ||
Due 7/15/26 | Brazil | TBD | ||
Suspended until 11/10/26 | Shipping companies | |||
Suspended until 11/10/26 | China | 100% | ||
Suspended until 11/10/26 | China | Reciprocal tariff | 34% | |
TBD (no current deadline) | Canada | 25% | ||
TBD (no current deadline) | Mexico | 25% | ||
TBD | All countries (probably) | 100% | TBD (maybe Section 232) | |
TBD | Mexico | 30% | IEEPA | |
TBD | All countries (probably) | Inclusions process for timber and lumber | TBD | |
TBD | All countries (probably) | Inclusions process for truck parts | TBD | |
