Additional IEEPA Tariffs Announced
On Wednesday, President Trump announced the imposition of additional tariffs to be effective April 5th. The President has again invoked his authority under the International Economic Emergency Powers Act (IEEPA) to quickly implement additional tariffs. These IEEPA tariffs had been expected since the White House announced on February 13th their intention to impose reciprocal tariffs of some kind as early as April 2nd. The detail of this action follows, but we are still waiting for updates from Customs on how the tariffs will be reported; as of now, we do not have a list of new provisional tariff numbers to be used.
A 10% tariff for goods from all countries is scheduled to be effective on April 5th. These tariffs will not apply to goods loaded for export prior to April 5th.
Additionally, a higher reciprocal tariff will be assessed for countries with the highest trade deficits; these tariffs will vary for each of the listed countries and will be effective on April 9th. The tariff will not apply to goods loaded for export prior to April 9th.
- E.U. member countries 20%
- China 34%
- Japan 24%
- Vietnam 46%
- South Korea 26%
- Taiwan 32%
- India 27%
- Switzerland 32%
- Thailand 37%
- Malaysia 24%
- Indonesia 32%
- Israel 17%
- South Africa 31%
- Philippines 18%
- Cambodia 49%
- Bangladesh 37%
- Iraq 39%
- Norway 16%
- Venezuela 15%
- Nigeria 14%
- Guyana 38%
- Pakistan 30%
- Nicaragua 19%
- Jordan 20%
- Sri Lanka 44%
- Algeria 30%
- Kazakhstan 27%
- Angola 32%
- Libya 31%
- Tunisia 28%
- Cote d’Ivoire 21%
- Serbia 38%
- Laos 48%
- Madagascar 47%
- Myanmar 45%
- Botswana 38%
- Democratic Republic of the Congo 11%
- Namibia 21%
- Fiji 32%
- Cameroon 12%
- Liechtenstein 37%
- Brunei 24%
- Lesotho 50%
- Mauritius 40%
- Mozambique 16%
- Bosnia and Herzegovina 36%
- North Macedonia 33%
- Zambia 17%
- Moldova 31%
- Equatorial Guinea 13%
- Chad 13%
- Zimbabwe 18%
- Reunion 37%
- Malawi 18%
- Vanuatu 23%
- Syria 41%
- Saint Pierre and Miquelon 50%
- Nauru 30%
- Norfolk Island 29%
- Falkland Islands 42%
There are few exceptions, but articles currently subject to the Section 232 tariffs for steel and aluminum goods, Copper, pharmaceuticals, semiconductors, lumber, and other goods that may become subject to future Section 232 tariffs are not subject to the reciprocal tariffs according to the Executive Order.
Goods from Canada and Mexico are currently subject to an IEEPA tariff implemented earlier this year and this will remain in effect. As such, goods eligible for entry under the USMCA agreement will keep their duty-free status. Note that the same does not apply to China; they apparently will continue to have a 20% IEEPA tariff along with the 34% IEEPA tariff announced yesterday. Please note that the Proclamation has not been published, so the information we have has not been confirmed.
Additionally, a 25% Section 232 tariff has been implemented on passenger vehicles and light trucks as of April 3rd. A similar tariff on major automotive components is scheduled to be implemented on May 3rd.
We will update this information as more details are made available.
Best Regards,
Sam McClure, LCB
Director of Compliance & Customs Services