A Flurry of White House Tariffs Activity

Last week, President Trump’s August 1 deadline for “reciprocal” trade and tariffs deals ended.  In the days leading up to the deadline, the White House announced these deals:

• European Union (15%)
• Japan (15%)
• South Korea (15%)
• Indonesia (19%)
• Philippines (19%)

The White House has not yet released any formal agreements underscoring these announcements.

On July 31, the White House did issue an Executive Order outlining newly effective “reciprocal tariff rates” worldwide (excluding Canada and Mexico).  Further Modifying the Reciprocal Tariff Rates – Executive Order 

On July 30, the President imposed significant tariffs on Brazil (50% in total) Executive Order — Brazil and issued a Presidential Proclamation imposing a universal 50% tariffs on imports of semi-finished copper products (such as copper pipes, wires, rods, sheets, and tubes) and copper-intensive derivative products (such as pipe fittings, cables, connectors, and electrical components), effective August 1.  Copper Proclamation

 With respect to Canada, President Trump announced that tariffs on Canadian goods will increase from 25% to 35%, however, goods such as propane qualifying under the United States-Mexico-Canada Agreement (USMCA) continue to be exempt.  Goods transshipped to evade the 35% tariff will be subject, instead, to a transshipment tariff of 40%.  Amendment to Canadian Tariffs — Executive Order 

Citing progress with the Mexican government, the President extended the timeline for negotiations with Mexico by another 90 days.

Visit the NPGA Tariffs Portal for all of the latest news and links to official actions.  Please note, NPGA member login is required.

For further information, please contact NPGA President & CEO, Stephen Kaminski.