May 6, 2025
Retaliatory Tariff Update & Resources
The European Union (EU) is preparing countermeasures in response to the expansive tariffs the U.S. has imposed on EU imports. The EU currently faces 25% tariffs on steel, aluminum, and cars, and a 10% tariff on most other goods, potentially increasing after a 90-day pause ends in July. U.S. tariffs affect a large portion of EU trade, with the potential to grow following investigations into sectors like pharmaceuticals and semiconductors. The U.S. administration plans to announce potential tariffs on pharmaceuticals in the next few weeks.
As global trade tensions continue, our export compliance team is closely monitoring the retaliatory actions being taken in response to U.S. tariffs. Here is a summary of tariff measures that have already been implemented by Canada and China:
Retaliatory Actions on U.S. Goods
CountryDescriptionActionEffective DateCanadaIn February, announced tariffs on a list of products like meat and dairy.25% TariffsMarch 5thCanadaIn March, responded to U.S. tariffs on steel and aluminum.25% TariffsMarch 13thChinaResponded to U.S. tariffs with a list of products subject to tariffs including crude oil and agricultural machinery.10-15% TariffsFeb 10thChinaFollowing the U.S. tariff increase on March 4th, China announced a 2nd list of products subject to tariffs including wheat, corn and cotton.10-15% TariffsMarch 10thChinaIn April, announced retaliatory tariffs on all products from the U.S and then increased to 125%.84% Increased to 125% TariffsApril 10 and April 12, 2025
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