As of April 23, 2025, the United States' tariff landscape has undergone significant changes under President Trump's administration. Here's an updated overview of the current status:?
- Baseline Tariff: Effective April 5, 2025, a universal 10% tariff applies to imports from most countries. ?
- Country-Specific Tariffs: On April 2, 2025, President Trump announced reciprocal tariffs on approximately 90 countries, with rates varying based on trade deficits and practices. However, a 90-day pause was implemented for most countries (excluding China) to facilitate negotiations. ?Global Tax News
- Tariffs: U.S. tariffs on Chinese imports were raised to 145%, effectively creating a trade embargo. ?
- Negotiations: The Trump administration is considering reducing tariffs on Chinese imports to between 50% and 65%, contingent on successful negotiations with Beijing. ?Reuters
- Tariffs: Currently subject to the 10% baseline tariff.?Wikipedia+3Trade Compliance Resource Hub+3The White House+3
- Trade Talks: UK Chancellor Rachel Reeves has emphasized the importance of securing a favorable and carefully negotiated agreement rather than rushing into a deal. The UK is seeking exemptions from U.S. tariffs on cars, aluminum, and steel. ?The Guardian
- Tariffs: Subject to a 20% tariff under the reciprocal tariff structure announced on April 2. ?
- Retaliation: The EU is considering imposing duties on up to ?26 billion worth of American goods in response to U.S. tariffs on steel and aluminum imports. ?
- Tariffs: Initially exempted from the 10% baseline tariff, but President Trump announced plans to impose a 25% tariff on all products from Canada and Mexico. ?Trade Compliance Resource Hub+3Wikipedia+3The White House+3
- Negotiations: Country-specific tariffs have been delayed for 90 days (until July 8, 2025) to allow for negotiations. ?Welcome to WilmerHale
- Vietnam: Subject to a 46% tariff under the reciprocal tariff structure. ?Passport
- India: Subject to a 26% tariff under the reciprocal tariff structure. ?
- Japan: Subject to a 24% tariff under the reciprocal tariff structure. ?Wikipedia
The situation remains fluid, with ongoing negotiations and potential adjustments to tariff rates in the coming months.?
