We wanted to bring you the latest news on tariffs in the US – here are the main points:
- China’s reciprocal tariff remains at 125% plus the original IEEPA Fentanyl tariff at 20% to total 145%. Section 301 and other HTS-related duties would be in addition. There are whisperings of back office discussions between the US and China. The US claims talks are underway, China claims they’re not…
- China has exempted some US imports from its high tariffs. Some US-produced pharmaceuticals can be imported without the 125% tariff China is levying against other US products
- Another 130+ product categories, including aircraft engines and chemicals, are under review for exemptions by China
- China has exempted some US imports from its high tariffs. Some US-produced pharmaceuticals can be imported without the 125% tariff China is levying against other US products
- Canada and Mexico are still at 25%, except products covered under the USMCA which will remain tariff-free
- The 90-day pause to reciprocal tariffs for most other countries has around 60 days remaining on it. The Trump administration has commented that deals with some 75+ countries are well underway
- China and Hong Kong become Ineligible for De Minimis effective May 2nd – no update has been communicated about this yet
- 25% Tax still applicable on foreign cars, steel, and aluminum
- We have updated our detailed overview and FAQ – a new version is here.
We will continue to work through the information and will bring you updates as we have them. If you have questions on these tariffs, please contact our team at Tariff.Support@albawheelsup.com.
Please also review your current bond limit and level of saturation. Tariffs are increasing duty levels and you want to make sure you’re not exposed – read our overview here. Our Bond team can guide you at Bonds@albawheelsup.com.
Please leverage our support teams as you navigate through these ongoing changes to international trade – we’re here to help.
