To keep track of the Trump Administration tariff plans and actions requires vigilance. The difficulty in monitoring daily tariff actions and the impact is a challenge to all trade compliance officers. Here is the best list that we have been tracking since the Trump Administration started to implement tariffs across a wide range of countries and industries.
On April 5, 2025, the Trump Administration implemented a ten (10) percent tariff on nearly all imports in the United States, except for certain electronic items such as smartphones. Three days earlier, on April 2, 2025, the Trump Administration announced “reciprocal” tariffs ranging from eleven (11) percent to fifty (50) percent and targeted approximately ninety (90) countries. Shortly after the announcement, the Trump Administration delayed implementation for ninety (90) days for most countries, with the significant exception of China.
With respect to China, the Trump Administration has announced progressive tariffs, reaching a cumulative rate of 145 percent by April 9, 2025. This incorporates multiple layers — a ten (10) percent baseline, a twenty (20) percent fentanyl-related tariff, a thirty-four (34) percent “reciprocal” and an additional fifty (50) percent tariff. In response, China has imposed a tariff of up to 125 percent on United States goods and restricted exports of critical rare-earth minerals.
For Canada and Mexico, the Trump Administration implemented on March 4, 2025, twenty-five (25) percent tariffs targeting most imports with exceptions for goods that complied with the USMCA. Canada and Mexico have retaliated with teir own tariffs on various United States goods.
Japan faced a twenty-five (25) percent tariff on automobiles and auto parts, and a twenty-four (24) percent tariff on other goods. Israel was subjected to a seventeen (17) percent import duty on its goods, and South Korea faced a twenty-five (25) percent tariff.
The Trump Administration targeted various industries for tariffs. A twenty-five (25) percent tariff was imposed on all imports of steel and aluminum, effective March 12, 2025. This includes products such as canned beer and empty aluminum cans.
Under Section 232 of the Trade Expansion Act of 1962, President Trump is authorized to impose tariffs or other trade restrictions on imports if the U.S. Department of Commerce determines that the imports threaten to impair national security. Applying this authority, the Trump Administration has initiated investigations against the pharmaceuticals and semiconductors industries, which is expected to result by May 2025 in the imposition of new tariffs between ten (10) and twenty-five (25) percent. Similarly, a twenty-five (25) percent tariff is expected to be imposed on auth parts by May 3, 2025.
While the Trump Administration’s tariff announcements has had sweeping and broad economic and political implications, companies that rely on imports from other countries have experienced significant economic impact. For example, almost all companies that import a product from any country is required to pay at a minimum, a ten (10) percent tariffs equal to 10 percent of the value of the product to the United States government. The ten (10) percent surcharge is the lowest amount of a tariff, and can increase to as much as 145 percent of the value of the product imported from China.
There is no question that these dramatic increases in import surcharges has had a significant economic impact. The ripple effect of these charges will likely hit consumers with increased retail prices but such an impact will take time to develop.
The potential impact of these tariffs can be very costly to companies. The U.S. government is likely to experience growth in revenues collected from these tariffs. Experts have estimated that the new tariff charges could exceed $1 trillion, a significant increase from last year’s total of roughly $100 billion.
