Bilateral negotiations around the Trump Administration's tariffs have begun to bear fruit as we see tariff relief for China and the U.K.
The U.S. and China have agreed to roll back most of the tariffs that each country has imposed on the other in recent months for 90 days while discussions aimed at achieving a permanent trade deal continue. The U.S. will reduce the reciprocal tariff rate on Chinese goods to 10 percent, with the tariff rate on items valued at less than $800 reduced to 54 percent, down from 120 percent. China will reduce tariffs on U.S. imports to 10 percent, down from 125 percent, and remove certain non-tariff countermeasures.
The U.S. and the U.K. have agreed upon aframeworkoutlining the structure and priority areas for the U.S.-UK Economic Prosperity Deal, a new bilateral trade deal expected to be finalized later this year. The framework focuses on reducing tariffs and non-tariff barriers across various economic sectors, including quotas for imports of steel, aluminum, and automotive products at reduced tariff rates. This framework may be a basis for future trade agreements between the U.S. and other trading partners.
Even with the recent announcements of tariff relief measures, new industries continue to face the prospect of looming tariff rate increases. The Commerce Department has initiated another Section 232 Investigation, this time on imports of commercial aircraft and jet engines, and parts for commercial aircraft and jet engines. Interested parties can submit to the Commerce Department written comments, data, analyses, or information pertinent to this investigation by June 3, 2025.
Keeping track of all of the tariffs that have been promulgated or proposed during the Trump Administration continues to be a head-spinning task. To help follow the proliferation of tariffs in the Trump Administration, I have put together the following list of each of the tariff measures that have been implemented, pending, or proposed since January 20,2025.
Here is the developing landscape of U.S. tariffs as of May 14, 2025:
|
Country |
U.S. Tariff Measure |
Status |
|
Global [Canada & Mexico Exempt] |
Reciprocal tariffs –10%ad valorem duty China-specific54%ad valorem duty onde minimisvalued imports, other country-specific duties suspended Certain goods excluded |
Revised5/12/2025 Implemented4/2/2025 Executive Order Establishing Tariffs Executive Order Revising Tariffs |
|
China |
Chinese Vessels – Port Entry Fees on Chinese owned or built vessels, and foreign-built car carriers. |
Implemented: 4/17/2025 USTR Notice of Action/Proposed Action, Request for Comments, and Notice of Public Hearing |
|
Global |
Automobiles –25%ad valorem duty on imports of automobiles (with certain allowances for USMCA-qualifying autos) and certain automobile parts (with limited tariff offsets) |
Implemented4/3/2025 (effective 5/3/2025 for automobile parts) Proclamation on Sec. 232 Duties Proclamation with HTS Amendments |
|
Global |
All goods imported from any country that imports Venezuelan oil – discretionary25%ad valorem duty may be imposed |
Implemented4/2/2025 |
|
Global |
Steel –25%ad valorem duty on imports of steel articles and derivative products with no exemptions or exclusions |
Implemented: 3/12/2025 |
|
Global |
Aluminum –25%ad valorem duty on imports of aluminum articles and derivative products with no exemptions or exclusions |
Implemented: 3/12/2025 |
|
Canada |
10%ad valorem duty on non-USMCA-qualifying energy and potash 25%ad valorem duty on all other non-USMCA-qualifying products of Canada |
Implemented: 3/4/2025; 4/2/2025 (updated) |
|
Mexico |
25%ad valorem duty on all non-USMCA-qualifying products of Mexico |
Implemented: 3/4/2025; 4/2/2025 (updated) |
|
China |
20%ad valorem duty on all products of China |
Implemented:3/4/2025 |
|
Global |
Aircraft and Engines – potential tariffs on imports of commercial aircraft and jet engines, and aircraft/engine parts |
Pending:Section 232 Investigation |
|
Global |
Critical Minerals – potential tariffs on imports of processed critical minerals and derivative products |
Pending:Section 232 Investigation |
|
Global |
Medium & Heavy Duty Trucks – potential tariffs on imports of medium-duty trucks, heavy-duty trucks, and medium- and heavy-duty truck parts. |
Pending:Section 232 Investigation |
|
Global |
Semiconductors – potential tariffs on imports of semiconductors, SME, and derivative products |
Pending:Section 232 Investigation |
|
Global |
Pharmaceuticals– potential tariffs on imports of pharmaceuticals, pharmaceutical ingredients, and derivative products |
Pending:Section 232 Investigation |
|
Global |
Copper – potential tariffs on imports of copper and derivative products |
Pending:Section 232 Investigation |
|
Global |
Lumber – potential tariffs on imports of timber, lumber, and their derivative products |
Pending– Section 232 Investigation |
|
Global |
100% tariff on movies produced outside of the United States |
Proposed: 5/4/2025, announced by President Trump on Truth Social |
|
E.U. |
25% ad valorem duty on all products of the E.U. |
Proposed: 2/26/2025, superseded by Reciprocal Tariffs |
This list will be updated weekly as new tariffs are implemented and new targets for tariffs are identified by President Trump and the administration.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
