New IEEPA Reciprocal Tariffs: President Trump signed the Executive Order Further Modifying the Reciprocal Tariff Rates last Thursday, which updated the IEEPA reciprocal rates and confirmed an effective date of 7 August 2025.Several of the trade deals alluded to in the media were concretized in the Executive Order, including but not limited to Japan, South Korea, Indonesia, the European Union, amongst others. All shipments that are imported or withdrawn from warehouse for consumption on or after 12:01 a.m. on 7 August will be subject to the new duties. An updated tariff table with the latest rates and deals is available below. Countries are continuing to negotiate to reduce or avoid reciprocal tariffs, and have reacted in the media:
Executive Order Updating Tariff Rates for Canada: On 31 July, The White House announced an Executive Order updating effective tariff rates for Canada effective 1August. For Non-USMCA compliant imports, the updated tariff rate is 35%, a10% increase from the previously threatened rates on non-USMCA compliant items.
Tariff Reprieve for Mexico: On Thursday, 31 July, President Trump and President Sheinbaum of Mexico acknowledged that the US would pause the IEEPA tariff increase scheduled to come into effect on 1August for an additional 90 days (anticipated 1 November 2025). The pause would give both countries additional time to negotiate. Goods compliant with USMCA will continue to be exempt from the current 25% IEEPA tariff.
Suspending Duty-Free De Minimis Treatment for All Countries: President Trump signed an executive order suspending duty-free de minimis treatment on all imports regardless of value, country of origin, mode of transport, or method of entry. Most products imported into the United States by manufacturers of food processing machinery and equipment are likely commercial shipments valued over the $800 value threshold and therefore would not qualify for De Minimis treatment. However, the suspension will impact imports of any low value spare parts or components which were previously duty free.
Section 232 Copper Tariffs: As a result of the Section 232 investigation into copper, President Trump signed a proclamation imposing universal 50% tariffs on non-US origin copper content of imports of semi-finished copper products and copper derivative products effective 1August. Non-copper content of a product remains subject to reciprocal tariffs or other applicable duties.
Executive Order on Brazil: On Wednesday, 30July, President Trump signed an executive order placing a 40% tariff on Brazilian imports starting on 1 August, citing his authorities under the International Emergency Economic Powers Act(IEEPA) and declaring Brazil’s judicial actions and digital content policies a national emergency. While there is a list of exemptions for certain products(including carve outs for articles of civil aircraft), PMMI products are not present on this list.
Please find the latest on IEEPA country tariffs below:
