Tariffs
During 2025 US President Donald Trump has announced a range of new tariffs on goods imported into the US, such as a 25% tariff on all foreign-made automobiles which came into effect on 3 April 2025.
Notably, on 2 April 2025 he announced an extensive new tariff package, the stated aim of which being to "rebalance global trade flows". The announcement set out plans for:
- A baseline 10% duty on all imports into the US (subject to certain exceptions) — to apply from 5 April 2025.
- Additional country-specific tariff increases, affecting imports from more than 60 countries and jurisdictions — to apply from 9 April 2025.
The introduction of the higher country-specific tariffs was subsequently delayed, pending negotiations. In the meantime, a number of jurisdictions agreed trade deals with the US, resulting in their tariff rates being cut.
However, on 31 July 2025 Trump signed an executive order imposing tariffs ranging from 10% to 41% on a number of countries and jurisdictions, with the new rates taking effect on 7 August. Certain countries — such as China and Mexico — were excluded from the order, in light of ongoing negotiations.
Additional tariffs have been imposed on certain countries and types of goods. For example, on 6 August 2025 the White House issued an executive order imposing an additional 25% ad valorem duty on certain products of India. Later, on 25 September, Trump announced new tariffs on drugs, trucks and kitchen cabinets.
It is important to note that the tariffs are applied based on country of origin (not the country of dispatch), and that — as of 29 August 2025 — the $800 de minimis threshold for commercial shipments no longer applies.
Detailed information on US tariffs can be accessed via the following sources:
In addition, the ICAEW Library maintains a dedicated research guide on tariffs.
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