Below is a quick update on new tariffs to be implemented tomorrow.
- Tariffs range from 10% to 41% and are on top of MFN. Below are some countries of interest to PMMI.
- Free for USMCA-compliant goods and increased to 35% from 25% for non-USMCA compliant for goods from Canada
- 15% for goods from the EU: Note, under the announced agreement and confirmed in the EO, the EU is the one exception to how tariffs are applied – the 15% is inclusive of MFN, unless MFN is higher than 15%.
- 15% for goods from Japan per the announced agreement, although on top of MFN, not inclusive as reported by the Government of Japan.
- 15% for goods from South Korea per the announced agreement
- 39% for goods from Switzerland, up from 31%
- 20% for goods Taiwan, down from 32%
- 10% for goods from UK, in line with their agreement
- Goods loaded, in final mode of transit before 7 August and entered before 5 October remain at current baseline rates at 10%. This may help PMMI members that are sourcing abroad and have their goods loaded in the next week destined for the United States on final mode of transit (e.g., bakery machinery from Germany loaded and shipped directly to the US by next Friday).
- No change for goods from Mexico for at least 90 days, per earlier announcement today.
- Please see source documents below.
