Tariff Resource Center
Navigating Tariff Disruption in Real Time
Tariffs are transforming industry landscapes and placing a heavy burden on business owners, who must shift their current strategy or pay the added cost. The speed of information, the complexity, and new administrative obligations for manufacturers are creating new challenges.
Our team consists of supply chain optimization specialists who have assisted clients with tariff mitigation strategies, including product costing/pricing strategies, procurement savings strategies, operational and working capital improvement, and light restructuring.
Tariff Updates
Recent Tariff Developments
Stay informed on the most recently announced tariffs that have taken or will take effect within the next 30 days. Review effective dates for various new tariffs and a brief description of each one to better understand how they will impact your business.
Section 232
- October 14: 10% on imported lumber and timber plus 25-50% on upholstered furniture and kitchen cabinets
- November 1: 25% on all medium and heavy-duty trucks
- TBD: 100% tariff on imports of brand-name or patented medicines unless the drug companies commit to building manufacturing facilities in the United States
Section 301
- October 14: Port fees on China-built, owned and operated ships
- Flat fee of $80 per net tonnage per voyage to the U.S.
- Higher of either $23 per net tonnage or $154 per 20-foot equivalent unit capacity for Non-Chinese operators
- Includes Non-U.S.-built roll-on/roll-off auto carriers - with exceptions for U.S.-flagged ships
- Either of these fees charged five times or less per year
- Vessel operators (or their agents) will pay the fees directly on Treasury's Pay.gov website using the Section 301 Fee payment form.
Updated Tariff Rates Following August 1 Reciprocal Tariff Deadline
August 11, 2025
At least 25 countries received letters from the US President during the month of July regarding a possible increase in reciprocal tariffs, which were set to take effect on August 1, 2025.
Several countries were able to renegotiate more favorable rates prior to the August 1 deadline; other countries are still trying to finalize new deals.
On July 31, President Trump released an Executive Order with the new Reciprocal Tariff rates. Any countries not listed in Annex I of the EO are subject to the 10% baseline reciprocal tariff.
Below are the most current rates for some of those countries:
- Brazil: 50%
- India: 50% (25% + sanction for Russian oil imports)
- Laos: 40%
- Myanmar: 40%
- Switzerland: 39%
- South Africa: 30%
- Vietnam: 20%
- Sri Lanka: 20%
- Indonesia: 19%
- Philippines: 19%
- Cambodia: 19%
- Thailand: 19%
- Pakistan: 19%
- European Union: 15%
- Japan: 15%
- South Korea: 15%
Global Aluminum & Steel
Section 232 of the Trade Expansion Act
February 10, 2025:
- Tariffs on steel remains at 25%
February 10, 2025:
- Tariffs on steel remains at 25%
- Raised the aluminum tariff from 10% to 25%
- All country exemptions eliminated
- Terminated all existing General Approved Exclusions (GEAs) and phasing out specifc product exclusions
- Added a list of steel and aliminum derivative articles made from U.S.-sourced steel and aluminum
March 12, 2025:
No Duty Drawback
May 8, 2025: Steel and aluminum tariffs remain at 25% for the U.K.
June 17, 2025: New trade deal signed between United States and United Kingdom
- Tariffs on U.K. aerospace products have been exempted from previous 10% tariff on all other countries
- Automotive import tariffs have been slashed to 10% from 27.5% on a quota of 100,000 vehicles per year
- Discussions are ongoing on steel and aluminum tariffs
Auto Tariffs
Adjusting Imports of Automobiles and Automobile Parts Into the United States
Effective May 5, 2025: It is expected that a content-based valuation system will be implemented, where the 25% tariff will apply only to the non-US content of USMCA qualifying parts.
No Duty Drawback
State of U.S.-Canada Trade Relations
$57.6B in trade
In a July 10 letter, President Trump notified Canadian Prime Minister Mark Carney of a new 35% "reciprocal" tariff under the International Emergency Economic Powers Act (IEEPA). They will be imposed as of August 1, unless new terms are agreed upon. Canada, in turn, is preparing to adjust its countermeasures to match the elevated Section 232 tariffs, which now sit at 50%. While the exact Canadian retaliatory rates remain undisclosed, August promises high-stakes developments.
State of U.S.-China Trade Relations
$27.0B in trade
A 90-day tariff pause with China ends on August 12, and unless a new agreement is reached, tariffs will spike from 10% to 34%. Ongoing talks have proposed an extension, but approval remains pending from the White House. China’s status as both a geopolitical rival and an indispensable trade partner makes this one of the most closely watched negotiations.
State of U.S.-Mexico Trade Relations
$74.5B in trade
On July 12, the U.S. announced a sweeping 30% tariff on Mexican imports, effective August 1, citing trade imbalances. Mexican President Claudia Sheinbaum condemned the move as "unjustified" and has warned of retaliatory measures. However, some goods may be spared under USMCA rules of origin, offering a potential buffer for cross-border businesses.
State of U.S.-U.K. Trade Relations
$12.9B in trade
The Economic Prosperity Deal, signed May 8, established a 10% baseline tariff on British exports, one of the lowest among peers. Importantly, the U.S. has spared UK pharmaceuticals from additional tariffs and is considering preferential treatment pending ongoing investigations. The deal also introduced key tariff-rate quotas and exemptions:
- Automobiles: 7.5% tariff on the first 100,000 UK-made vehicles.
- Auto Parts: 10% total duty.
- Aerospace: No Section 232 or reciprocal tariffs on qualifying goods.
Meet Our Professionals
Latest News
Supreme Court Weighs Legality of Tariffs
11/03/25
The ruling will decide whether the International Emergency Economic Powers Act (IEEPA) allows presidents to impose tariffs without congressional approval.
Read More
Trump Finds New Trade Targets - Pharmaceuticals, Kitchen Cabinets and Heavy Trucks
09/29/25
In an article originally published by the Associated Press, Charles Clevenger was quoted on President Trump’s recent announcement of new tariffs, including 100% on pharmaceuticals, 50% on kitchen cabinets and bathroom vanities, and 25% on heavy trucks.
Read More
Transfer Pricing Considerations Amid 2025 Tariff Developments
08/26/25
Tariffs have been creating challenges and forcing tough decisions for business owners, resulting in reductions in workforce, price increases for consumers, delays in investment, and other negative impacts.
Read More
Tariff Turbulence: An Update on U.S. Trade Policy and Global Impacts
08/06/25
The United States continues to actively reshape its global trade relationships through a combination of targeted tariffs and strategic trade agreements. In just the first seven months of the year, it has been reported that tariff collections have generated an estimated $172 billion in revenue.
Read More
Tariffs Collide with Taxes in Trump Bill
05/22/25
Artificial intelligence has quickly become a tech solution that businesses of all sizes across sectors are either implementing or looking to do so soon.
Read More
Where We Stand Today: Industry Insights into the Future of Tariffs
05/19/25
Navigating the evolving tariff landscape requires strategic compliance, financial management, and a commitment to continuous improvement.
Read More
Trump Executive Order Eases Impact of Auto Tariffs but Adds Another Layer of Complexity
05/01/25
The latest development surrounding President Trump’s quest to bring manufacturing back to the United States comes by way of a tariff revision to the recent 25 percent duty on imported vehicles and auto parts.
Read More
Accountants Tackle Tariff Increases After 'Liberation Day'
04/04/25
President Trump's imposition of steep tariffs on countries around the world is likely to drive demand for accounting experts and consultants to help companies adjust and forecast the ever-changing percentages and terms.
Read More
Challenges and opportunities amid 25% automotive tariffs
04/01/25
New 25% tariffs on imported vehicles and parts are shaking up the auto industry, creating uncertainty—but also opportunity. As automakers and suppliers face critical strategic decisions, forward-thinking companies can still position themselves for growth.
Read More
The ruling will decide whether the International Emergency Economic Powers Act (IEEPA) allows presidents to impose tariffs without congressional approval.
In an article originally published by the Associated Press, Charles Clevenger was quoted on President Trump’s recent announcement of new tariffs, including 100% on pharmaceuticals, 50% on kitchen cabinets and bathroom vanities, and 25% on heavy trucks.
Tariffs have been creating challenges and forcing tough decisions for business owners, resulting in reductions in workforce, price increases for consumers, delays in investment, and other negative impacts.
The United States continues to actively reshape its global trade relationships through a combination of targeted tariffs and strategic trade agreements. In just the first seven months of the year, it has been reported that tariff collections have generated an estimated $172 billion in revenue.
Artificial intelligence has quickly become a tech solution that businesses of all sizes across sectors are either implementing or looking to do so soon.
Navigating the evolving tariff landscape requires strategic compliance, financial management, and a commitment to continuous improvement.
The latest development surrounding President Trump’s quest to bring manufacturing back to the United States comes by way of a tariff revision to the recent 25 percent duty on imported vehicles and auto parts.
President Trump's imposition of steep tariffs on countries around the world is likely to drive demand for accounting experts and consultants to help companies adjust and forecast the ever-changing percentages and terms.
New 25% tariffs on imported vehicles and parts are shaking up the auto industry, creating uncertainty—but also opportunity. As automakers and suppliers face critical strategic decisions, forward-thinking companies can still position themselves for growth.
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