This afternoon President Trump announced new reciprocal tariffs on imports from many countries. These tariffs will start at a minimum of 10% but many countries will be at a higher rate. For example, China’s rate was announced at 34% and the EU at 20%. You can view the list of countries that were referenced during the announcement here. The 10% tariffs will take effect April 5th while the countries with the higher tariffs will take effect on April 9th.

Automobiles (passenger vehicles and light trucks) and parts subject to the 25% tariffs that were announced last week are effective 4/3/25 for automobiles automotive parts will go into effect on 5/3/25. Read the full proclamation details.

White House documents were released outlining the new tariffs and highlight that some goods will not be subject to the new reciprocal tariffs including steel, aluminum and auto parts. Goods listed in Annex II are not subject to the additional duties. The fact sheet also states that the existing tariffs on Canada and Mexico remain in effect and are not impacted by the new reciprocal tariffs. For additional details from the White House, please reference the fact sheet and executive order.

The President also signed an executive order eliminating duty-free de minimis treatment for low-value imports from China. According to the fact sheet, starting 5/2/25 goods from China and Hong Kong will no longer benefit from duty-free de minimis treatment.