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
Global Aluminum & Steel
Section 232 of the Trade Expansion Act
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: US agreed to remove 232 tariffs on steel and aluminum for the UK.
China, Hong Kong & Macau
International Emergency Economic Powers Act (IEEPA)
May 12, 2025:
- U.S. and China agree to 90-day suspension of reciprocal tariffs, effectively slashing tariffs by more than 100%
-
20% tariff through IEEPA and 10% reciprocal tariffs =30%
-
Standard duty still applies
-
Section 301 still applies
-
Steel/aluminum stays at 25%
-
De Minimis Threshold
May 14, 2025
- Shipments of specific products under $800 from China and Hong Kong will be subject to ad valorem duty rate of 54% or flat specific duty rate of $100 per package
Canada & Mexico
International Emergency Economic Powers Act (IEEPA)
March 4, 2025:
- 25% tariff on all goods imported from Canada and Mexico.
April 2, 2025:
- Paused without a determined end date for USMCA-qualified goods.
- Duty Drawback allowed on USMCA-qualified goods only
Reciprocal Tariffs
'Fair and Reciprocal Plan' February 2025
April 2, 2025:
- Reciprocal tariffs announced on imported goods from most countries.
- 10% on all countries, except Canada and Mexico (0% USMCA, 25% non-USMCA).
April 9, 2025:
- Higher Tariffs: Paused until July 9, 2025.
- Exceptions: Does not apply to goods already subject to Section 232.
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
United Kingdom
May 8, 2025
- 10% reciprocal tariffs remain in place
- Alternative agreement is in place for Section 232 tariffs on UK autos; 10% on first 100,000 vehicles and 25% on any additional vehicles
- UK is now exempt from Section 232 tariffs on aluminum and steel
Meet Our Professionals
Latest News
-
Accountants Tackle Tariff Increases
-
Auto Industry Faces 25% Tariffs
-
Contractors Face Tariff Impact
-
Executive Order Limits Tariff Impact
Accountants Tackle Tariff Increases After 'Liberation Day'
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
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
Contractors Brace for Impact of Tariffs, Labor Challenges
New baseline 10 percent import tariffs plus additional country-specific charges will present challenges for all industries, and construction may have added challenges to contend with.
Read More
Trump Executive Order Eases Impact of Auto Tariffs but Adds Another Layer of Complexity
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
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.
New baseline 10 percent import tariffs plus additional country-specific charges will present challenges for all industries, and construction may have added challenges to contend with.
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.
Contact Us
By submitting this form, you agree to be contacted by UHY.