Last week, the U.S. administration sent letters to approximately 22 nations outlining new reciprocal tariff rates, including a 50% tariff on imports from Brazil. On Friday, it was announced that Canada received a letter with a new rate at 35% and then on Saturday letters were sent to the EU and Mexico establishing a 30% reciprocal tariff, set to begin on August 1st.
Below is a running list of nations along with the updated reciprocal tariff percentages. As trade talks continue, uncertainty remains. For countries not listed below, there is still a possibility that reciprocal tariffs could increase from 10% to 15-20% or higher in the coming weeks.
Summary of New Reciprocal Tariff Rates Effective August 1st
- 20%: Philippines
- 25%: South Korea, Japan, Brunei, Moldova, Tunisia, Kazakhstan and Malaysia
- 30%: EU, Mexico, Sri Lanka, Algeria, Iraq, Libya, Bosnia and Herzegovina and South Africa
- 32%: Indonesia
- 35%: Canada, Serbia and Bangladesh
- 36%: Cambodia and Thailand
- 40%: Laos and Myanmar
- 50%: Brazil
The European Union has agreed to temporarily suspend retaliatory tariffs on U.S. goods, originally set to take effect Monday, in hopes of reaching a negotiated trade agreement with the U.S. administration by August 1. Both Canada and Brazil have announced they are preparing their own plans for retaliatory tariffs in response to the proposed U.S. measures, signaling the potential for broader trade tensions if no resolution is reached in the coming weeks.
On Monday President Trump, speaking alongside NATO Secretary-General Mark Rutte, also proposed secondary tariffs that would target Russia’s trade partners to further isolate the country economically if a peace deal to end the war in Ukraine isn’t reached within 50 days.
These reciprocal tariff rates and regulations are subject to change. We will continue to monitor and update when we receive more guidance from U.S. Customs and Border Protection.