Latest U.S. Tariff Announcements

1st August 2025

On July 31, 2025, President Trump signed executive orders revising reciprocal tariff rates on 68 countries and the 27-member European Union. These new rates—ranging from 10% to 50%—take effect in seven days, reshaping U.S. trade relationships and targeting longstanding imbalances.


Canada 35% 25% Effective Aug 1; aimed at curbing fentanyl flows; no changes to scrap

European Union (27 members) 15% 10% Tied to a deal including $750 billion energy purchases by 2028

Japan 15% 10% Part of broader agreement with $550 billion U.S. investments

South Korea 15% 10% U.S. exports to Korea remain tariff-free under the deal

India 25% 10% Negotiations stalled; subject to "penalty" for ties with Russia

Taiwan 20% 10% Framework agreement reached

Brazil 50% 10% Exempts orange juice and Embraer aircraft parts

Mexico (Deferred) 25% 90-day reprieve on new duties; current rates extended

All other listed countries (68 total) 15-40% 10% Rates individualized based on trade deficits and security concerns

Countries not listed 10% baseline n/a Applies to any trading partner without a specific rate in Annex I

Additional Measures
End of the de minimis exemption: imports valued under $800 will lose their tariff-free status starting August 29, applying duties to low-value parcels.

Semi-finished copper products: 50% tariff from August 1, excluding scrap and input materials to lessen supply-chain disruption.

ASEAN and Southeast Asia: framework rates of 19-20% on nations like Indonesia, Philippines, Pakistan and Vietnam, reflecting recent trade understandings.

U.S.-EU deal: Europe agrees to purchase $750 billion in U.S. energy and invest $600 billion domestically by 2028 while accepting a 15% tariff rate.

Legal challenges: the U.S. Court of International Trade has paused enforcement of some "Liberation Day" tariffs pending appeal, creating uncertainty over full implementation.

Context and Next Steps
These tariffs are part of a broader strategy to reduce the U.S. goods trade deficit, protect national security, and secure “fair and reciprocal” trade relationships. Detailed rules of origin and product-specific exemptions are forthcoming, and negotiations with China face an August 12 deadline to extend the current tariff pause. Allies are reacting cautiously, and legal battles over executive authority will shape enforcement in the coming months