President Donald J. Trump has officially announced the implementation of his long-anticipated Reciprocal Tariff Policy. The key provisions are as follows:
- A 10% baseline tariff on all countries will take effect on April 5, 2025, at 12:01 a.m. EDT.
- Goods that have been loaded onto a vessel at the port of origin and are in transit on their final mode of transport before 12:01 a.m. EDT on April 5, 2025, and entered for consumption or withdrawn from warehouse for consumption after this time, will not be subject to the additional duty.
- Countries listed in Annex-I.pdf will be subject to country-specific ad valorem tariff rates, which will take effect on April 9, 2025, at 12:01 a.m. EDT. Goods in transit before this time but entered for consumption afterward will be exempt from these specific tariffs.
- Certain goods will not be subject to the Reciprocal Tariff, including:
Steel, aluminum, automobiles, and auto parts already subject to Section 232 tariffs
Items listed in Annex-II.pdf
- Canada and Mexico: Existing fentanyl/migration IEEPA orders remain in effect and are unaffected by this tariff policy. Under this framework:
USMCA-compliant goods will continue to face 0% tariffs.
Non-USMCA-compliant goods will be subject to a 25% tariff.
Non-USMCA-compliant energy and potash will be subject to a 10% tariff
As additional updates become available or changes are made we will continue to keep you posted.
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