President Trump issued an Executive Order pausing the imposition of previously announced country-specific tariff rates between 10-50% for 90-days. Instead, the U.S. will apply an ad valorem 10% tariff to imports from nearly all countries, except China. Imported products from China will now face new 145% tariff (20% related to illicit drugs, 125% reciprocal).
For example, if the imported product was from Vietnam and was supposed to face a 46% reciprocal tariff beginning April 9, it will now only face a 10% reciprocal tariff for the next 90 days (in addition to normal duties and any other applicable charges). Negotiations are expected to begin or continue between the U.S. and many countries during this time, which could impact future tariff actions.
As a reminder, some products are exempt from these reciprocal tariffs, including products subject to Sec. 232 aluminum derivative tariffs (e.g., fishing reels and landing nets), and the U.S. content of products in which at least 20% of the value of article is U.S. originating. For more information, please visit ASA’s trade and tariffs FAQs.
Additionally, click here for U.S Customs and Border Patrol guidance for complying with these new tariffs.
The ASA Government Affairs team is monitoring closely and will provide updates as they continue to develop. Please do not hesitate to reach out to VP of Government Affairs Mike Leonard with questions. We will continue to post updates on our Trade & Commerce Hub, as well.
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