#1 Where Things Stand With Trump’s Tariffs
发表于 : 2025年 7月 8日 19:41
President Trump‘s ever-swerving tariff regime has taken more sharp turns this week.
On July 7, his administration pushed back some of its most punishing duties by another three weeks to August, following a 90-day delay. A day later, Trump said the U.S. will impose 50% tariffs on copper, as well as 200% tariffs on pharmaceuticals.
Trade deals could be coming. Japan’s top trade negotiator, for example, said July 8 that talks with the U.S. had progressed after speaking with U.S. Commerce Secretary Howard Lutnick.
But legal challenges to Trump’s ability to implement tariffs unilaterally are further extending the cloudy outlook for tariff policy and could result in a reversal of some of the duties already in place.
Here’s what to know:
What’s happening with so-called reciprocal tariffs?
Dozens of countries face so-called reciprocal tariffs if they don’t strike trade deals with the U.S. by Aug. 1. The tariffs were set to take effect on July 9 following a 90-day pause, but Trump on July 7 announced a three-week extension to negotiate trade deals.
In a Truth Social post on July 8, Trump stressed that Aug. 1 was a strict deadline. “No extensions will be granted,” he wrote.
The reciprocal duties, which initially proposed tariffs as high as 125% on China and applied to more than 80 nations, were first announced April 2. They were in place for just a few hours on April 9 before they got pushed off for several months. If they take effect again, the targeted countries would face the steeper rate in lieu of the 10% global baseline tariffs Trump has already imposed across nearly all U.S. imports. (The reciprocal duties in many instances don’t match the duties imposed on U.S. exports.)
Trump said his original 90-day reprieve was spurred by more than 75 countries showing a willingness to open negotiations regarding trade, trade barriers, tariffs, currency manipulation and other matters.
To which countries did Trump send tariff letters?
On July 7, the administration sent letters to more than a dozen countries threatening to raise tariff rates unless each secured trade deals with the U.S. by Aug. 1. The White House didn’t specify how the countries were chosen. Trump has said more letters will be sent in the days to come.
Rates set in the letters have so far ranged from 25% to 40% and are generally in line with the original reciprocal rates set out in April. Both Japan and South Korea, which together export millions of cars to the U.S., face 25% tariffs, according to the letters.
Trump on July 7 also threatened an additional 10% levy on countries siding with Brics, or a group of countries including Brazil, Russia, India and China.
The president posted letters to the leaders of Tunisia, Bosnia and Herzegovina, Indonesia, Bangladesh, Cambodia, Thailand and Serbia, among others, notifying them of tariff rates that they will have to pay on Aug. 1 if they don’t make a deal with his administration.
Where do tariffs stand with China, Mexico, Canada, the European Union and the U.K.?
China: The Trump administration has for now settled on a tariff of 55% on Chinese imports, a level that reflects rates that existed before Trump came to office in January.
In April, the president slapped a rate of up to 145% on China before he dialed it down to 30% in May for 90 days. He stuck with that rate after the nations reached a tentative trade deal in June. That rate is added to 25% tariffs that were in place before he took office.
Mexico and Canada: Trump ordered 25% duties on the import of goods from Mexico and Canada to take effect in March, before exempting products that fall under the U.S.-Mexico-Canada Agreement. The 2020 trade agreement generally allows products to enter duty-free if businesses can show they comply with certain rules regarding the origins of those products’ components.
The 25% tariffs on Mexico and Canada took effect in March with the exception of energy products such as crude oil and natural gas, which face a 10% tariff.
The EU: European Union officials are nearing a potential trade deal with the U.S. that is expected to retain 10% baseline tariffs for most European goods. It is unclear if there will be relief for European autos and steel, which already face 25% and 50% tariffs, respectively.
Trump previously threatened to raise tariffs for EU imports to 50%.
The U.K.: The U.S. has a fairly balanced trading relationship with the U.K., and the two nations reached a tentative trade deal that keeps tariffs at 10% for now. The deal also temporarily shields the U.K. from the 50% steel and aluminum tariffs.
What about tariffs related to specific goods?
In addition to the 50% tariff on copper imports, Trump is targeting 200% tariffs for pharmaceutical imports. However, he said July 8 that pharmaceutical companies would be given up to a year and a half to reshore supply chains before the duties come into effect.
Trump also said July 8 that he would soon announce tariffs on semiconductors, though he didn’t specify a tariff level or date. The Commerce Department has been conducting investigations into tariffs on those products under Section 232 of the Trade Expansion Act of 1962, which allows tariffs to be applied on goods considered essential for national security.
Some sectoral tariffs are already in effect, including 25% from April 3 on imported vehicles and from May 3 on auto parts. Auto goods covered under the U.S.-Mexico Canada Agreement are exempt.
Steel and aluminum imports to the U.S. have faced 50% tariffs since June 4, up from an earlier 25% rate. The U.K. is exempt from these tariffs.
On July 7, his administration pushed back some of its most punishing duties by another three weeks to August, following a 90-day delay. A day later, Trump said the U.S. will impose 50% tariffs on copper, as well as 200% tariffs on pharmaceuticals.
Trade deals could be coming. Japan’s top trade negotiator, for example, said July 8 that talks with the U.S. had progressed after speaking with U.S. Commerce Secretary Howard Lutnick.
But legal challenges to Trump’s ability to implement tariffs unilaterally are further extending the cloudy outlook for tariff policy and could result in a reversal of some of the duties already in place.
Here’s what to know:
What’s happening with so-called reciprocal tariffs?
Dozens of countries face so-called reciprocal tariffs if they don’t strike trade deals with the U.S. by Aug. 1. The tariffs were set to take effect on July 9 following a 90-day pause, but Trump on July 7 announced a three-week extension to negotiate trade deals.
In a Truth Social post on July 8, Trump stressed that Aug. 1 was a strict deadline. “No extensions will be granted,” he wrote.
The reciprocal duties, which initially proposed tariffs as high as 125% on China and applied to more than 80 nations, were first announced April 2. They were in place for just a few hours on April 9 before they got pushed off for several months. If they take effect again, the targeted countries would face the steeper rate in lieu of the 10% global baseline tariffs Trump has already imposed across nearly all U.S. imports. (The reciprocal duties in many instances don’t match the duties imposed on U.S. exports.)
Trump said his original 90-day reprieve was spurred by more than 75 countries showing a willingness to open negotiations regarding trade, trade barriers, tariffs, currency manipulation and other matters.
To which countries did Trump send tariff letters?
On July 7, the administration sent letters to more than a dozen countries threatening to raise tariff rates unless each secured trade deals with the U.S. by Aug. 1. The White House didn’t specify how the countries were chosen. Trump has said more letters will be sent in the days to come.
Rates set in the letters have so far ranged from 25% to 40% and are generally in line with the original reciprocal rates set out in April. Both Japan and South Korea, which together export millions of cars to the U.S., face 25% tariffs, according to the letters.
Trump on July 7 also threatened an additional 10% levy on countries siding with Brics, or a group of countries including Brazil, Russia, India and China.
The president posted letters to the leaders of Tunisia, Bosnia and Herzegovina, Indonesia, Bangladesh, Cambodia, Thailand and Serbia, among others, notifying them of tariff rates that they will have to pay on Aug. 1 if they don’t make a deal with his administration.
Where do tariffs stand with China, Mexico, Canada, the European Union and the U.K.?
China: The Trump administration has for now settled on a tariff of 55% on Chinese imports, a level that reflects rates that existed before Trump came to office in January.
In April, the president slapped a rate of up to 145% on China before he dialed it down to 30% in May for 90 days. He stuck with that rate after the nations reached a tentative trade deal in June. That rate is added to 25% tariffs that were in place before he took office.
Mexico and Canada: Trump ordered 25% duties on the import of goods from Mexico and Canada to take effect in March, before exempting products that fall under the U.S.-Mexico-Canada Agreement. The 2020 trade agreement generally allows products to enter duty-free if businesses can show they comply with certain rules regarding the origins of those products’ components.
The 25% tariffs on Mexico and Canada took effect in March with the exception of energy products such as crude oil and natural gas, which face a 10% tariff.
The EU: European Union officials are nearing a potential trade deal with the U.S. that is expected to retain 10% baseline tariffs for most European goods. It is unclear if there will be relief for European autos and steel, which already face 25% and 50% tariffs, respectively.
Trump previously threatened to raise tariffs for EU imports to 50%.
The U.K.: The U.S. has a fairly balanced trading relationship with the U.K., and the two nations reached a tentative trade deal that keeps tariffs at 10% for now. The deal also temporarily shields the U.K. from the 50% steel and aluminum tariffs.
What about tariffs related to specific goods?
In addition to the 50% tariff on copper imports, Trump is targeting 200% tariffs for pharmaceutical imports. However, he said July 8 that pharmaceutical companies would be given up to a year and a half to reshore supply chains before the duties come into effect.
Trump also said July 8 that he would soon announce tariffs on semiconductors, though he didn’t specify a tariff level or date. The Commerce Department has been conducting investigations into tariffs on those products under Section 232 of the Trade Expansion Act of 1962, which allows tariffs to be applied on goods considered essential for national security.
Some sectoral tariffs are already in effect, including 25% from April 3 on imported vehicles and from May 3 on auto parts. Auto goods covered under the U.S.-Mexico Canada Agreement are exempt.
Steel and aluminum imports to the U.S. have faced 50% tariffs since June 4, up from an earlier 25% rate. The U.K. is exempt from these tariffs.