We wanted to bring you an update on the very fluid situation on tariffs for Mexico, Canada, China, and metals. As of right now, Friday morning March 7th, here’s the latest:
- Additional 10% Tariff on All Chinese Goods – Still in effect
- Effectively doubling the IEEPA tariff (10% + 10%)
- The tariff is applicable on goods ” that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern standard time on March 4th, 2025.”
- 25% Tariff on Canada – now updated:
- Goods that qualify under the United States Mexico Canada Agreement that are entered free of duty as a good of Canada or Mexico under the terms of general note 11 to the HTSUS, including any treatment set forth in subchapter XXIII of chapter 98 and subchapter XXII of chapter 99, can be imported duty-free
- Potash that isn’t covered by USMCA will have its tariff reduced to 10%
- These changes take effect for covered goods entered or withdrawn from warehouse for consumption on or after 12:01 am EST on March 7th. While administration officials have said the tariff suspensions are only valid until April 2nd, the EOs include no termination date for them
- All other goods subject to 25% tariff
- 25 % on Mexico – now updated:
- Goods that qualify under the United States Mexico Canada Agreement that are entered free of duty as a good of Canada or Mexico under the terms of general note 11 to the HTSUS, including any treatment set forth in subchapter XXIII of chapter 98 and subchapter XXII of chapter 99, can be imported duty-free
- All other goods subject to the 25% tariff
- Imported steel and aluminum goods subject to Sec 232 will have a 25% tariff applied starting March 12th
- Join our webinar on Monday, March 10th to learn which imports might be affected and what options clients might have – register here
- Copper imports under review
- We’re still expecting reciprocal tariffs to be announced on other countries for April 2nd
- These so-called reciprocal tariffs will be in response to what President Trump is calling unfair trade practices that have been hurting the US for years
- There is still time to submit comments on this topic – the commentary period is open until March 11th, 2025, and comments can be submitted here
- Timber Review
- President Trump has initiated a review of US timber production and for the development of a plan to increase the availability of the product. We will continue to watch this development for mention of tariffs
The mentioned tariff rates are cumulative – they are in addition to tariffs your products are already subject to. The China tariff in particular means that Section 301, the original IEEPA 10% and the new IEEPA 10% tariff are all applicable.
Here’s an update on the tariffs previously mentioned by China, Canada, and Mexico:
- China is levying a 10-15% tariff on agricultural imports and certain other products from the USA beginning on March 12th
- Proteins, grains, cotton, soybeans, produce, and dairy products are all affected
- Canada has issued a 25% tariff on roughly $21B worth of products now but plans for tariffs on $86B of more products have been suspended
- Florida orange juice, appliances and other household items, beer, wine, coffee, and bourbon are some of the products exported from the US into Canada that are affected
- Mexico has suspended its plan for tariffs on US exports
This situation is very fluid but we will continue to monitor and bring you updates as we have them
