On July 7, 2025, President Trump issued an Executive Order, titled "Extending the Modification of the Reciprocal Tariff Rates" ("the Order"), delaying the date that higher, country-specific tariff rates are to go into effect on imports of foreign-origin goods. The subject country-specific tariff rates, previously set to go into effect on July 9, 2025, are part of the "reciprocal tariffs" President Trump originally announced on April 2, 2025 (i.e. "Liberation Day"). Pursuant to the Order, the new implementation date for these country-specific tariff rates is now August 1, 2025.
President Trump has begun the process of issuing letters to countries detailing the new tariff rates. The Trump administration originally set forth country-specific tariff rates, ranging from 11% to 50%, in Annex I to the April 2nd Liberation Day Executive Order. The White House Fact Sheet accompanying the July 7 Order notes that the tariff rates set to go into effect on August 1 may be different, and in some cases higher, than the Annex I rates.
Several countries including Japan (25%), South Korea (25%), Malaysia (25%), Brazil (50%), and Bangladesh (35%) have already received a tariff letter from the President, while additional letters are expected to be issued in the coming days. Some countries, such as the United Kingdom and Vietnam, have previously engaged in negotiations with the Trump administration to generate bilateral trade agreements and mitigate the risk of higher tariff rates. As more tariff letters are issued in the coming days and the August 1 implementation date looms, it is possible that additional negotiations occur and that new trade agreements are reached between the U.S. and additional countries seeking to avoid or mitigate the country-specific tariffs.
For now, a 10% baseline reciprocal tariff rate for imports from all countries other than China will remain in place until August 1. The July 7 Order does not impact the 10% reciprocal tariff currently in place for Chinese-origin imports, which remains in effect under Executive Order 14298 until August 12, 2025, or the 20% tariff on Chinese goods implemented in response to China's synthetic opioid supply chain. For more information on tariff actions implemented under the Trump administration please visit our "Torres Trade Trump Table."
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