Update on Tariffs: More Details on Updated Tariffs- 10

We wanted to bring you more information now that more news is available after this week’s announcement that the majority of reciprocal tariffs are being paused for 90 days.  Here are the main points:

• China’s reciprocal tariff is raised to 125% plus the original IEEPA Fentanyl tariff at 20% to total 145% immediately.  Section 301 and other HTS-related duties would be in addition
  • President Trump has stated he believes a deal will be made with China – no further details on that just yet
    
• 90-Day pause to reciprocal tariffs for most others countries – the countries remain at the 10% baseline
  • This includes the countries in the EU, in fact, it’s for all countries except China, Canada, or Mexico
    
  • Originally, Treasury Secretary Scott Bessent confirmed Canada and Mexico were also included in the 10% baseline tariffs.  That was not accurate.  The tariffs placed on Canada and Mexico are 25%, except products covered under the USMCA which will remain tariff-free
    
• 25% Tax still applicable to foreign cars, steel, and aluminum
  
• More “fair deals” could be communicated for other countries in the coming days and weeks
  
• China initially raised its tariff on US goods to 84%, but has subsequently raised it today to 125%
  
• Yesterday, the EU paused its retaliatory tariffs on US goods for 90 days
  
• 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 more 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.  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.