Market Intelligence U.S. Tariff Policy: A Quick Overview

Registration dateJUL 08, 2025

Last updated on July 8, 2025

Category	date	Details of Tariff Policies
Universal/Reciprocal	2025.07.07	Extension of reciprocal tariff grace period until end of July Effective date changed from Jul 9, 12:00 a.m. (EST) to Aug 1, 12:00 a.m. (EST) Notice of new reciprocal tariff rates sent to 14 countries New reciprocal tariff rates to be applied starting Aug 1 Affected countries: Japan 25%, South Korea 25%, South Africa 30%, Kazakhstan 25%, Laos 40%, Malaysia 25%, Myanmar 40%, Tunisia 25%, Bosnia and Herzegovina 30%, Indonesia 32%, Bangladesh 35%, Serbia 35%, Cambodia 36%, Thailand 36%
Universal/Reciprocal	2025.07.02	Vietnam, the first country to reach a trade deal among Asian countries Reciprocal tariffs lowered from 46% to 20% on Vietnamese goods But, 40% tariffs imposed on T/S goods (transshipment through Vietnam and export to the U.S.) Vietnam charged no tariffs on US products
Universal/Reciprocal	2025.06.16	The U.K. reached the first trade deal after reciprocal tariff pause Maintain 10% reciprocal tariff 10% tariffs on finished vehicles (100,000 units annually) 10% tariffs on auto parts (manufactured in the U.K. to be used in U.K.-made vehicles) Will set the quota allocated to be exempt from the tariff on steel
Item	2025.06.12	Additional announcement of tariffs on steel derivative products such as household appliances (refrigerator, washing machine, drying machine, dishwasher, etc.) Imposed 50% according to the steel content Effective from Jun 23
Universal/Reciprocal	2025.06.10	The U.S. Court of Appeals ruled to remain tariff impositions in effect during the appeal proceedings
Item	2025.06.03	Raised tariffs on steel, aluminum and derivative products from 25% to 50% Effective from Jun 4
Universal/Reciprocal	2025.05.29	The U.S. Court of Appeal temporarily halted the ruling, invalidating reciprocal tariffs (by Jun 9)
Universal/Reciprocal	2025.05.28	The U.S. Court of International Trade ruled to invalidate tariff impositions under the International Emergency Economic Powers Act (IEEPA)
Universal/Reciprocal	2025.05.12	The U.S.-China agreed to suspend tariffs for 90 days (May 14~Aug 11) Tariffs on China: Cut reciprocal tariffs from 125% to 10% but 20% tariffs still remain followed by concerns over sending fentanyl into the U.S. Tariffs on the U.S.: Reciprocal tariffs lowered from 125% to 10%
De Minimis	2025.05.12	Reduced tariffs on small parcels valued under $800 from China/Hong Kong Ad Valorem tax: Reduced to 54% of product price Specific tax: Maintain at $100 by item, effective from May 2
Item	2025.05.03	25% tariffs on imported auto parts in effect
Universal/Reciprocal	2025.04.09	After the imposition of reciprocal tariffs by country, a decision on 90-day tariff pause (Apr 10~Jul 8) was made Only apply 10% universal tariff (except for China) Announced to increase reciprocal tariffs additionally from 84% to 125% on China, effective from Apr 10
De Minimis	2025.04.09	Raised tariffs on small parcels valued under $800 from China/Hong Kong Ad Valorem tax: 120% of product price, effective from May 2 Specific tax: $100 by item, effective from May 2 → $200 by item, effective from Jun 1
Universal/Reciprocal	2025.04.08	Announced to raise reciprocal tariffs from 34% to 84% on China, effective from Apr 9
De Minimis	2025.04.08	Raised tariffs on small parcels valued under $800 from China/Hong Kong Ad Valorem tax: 90% of product price, effective from May 2 Specific tax: $75 by item, effective from May 2 → $150 by item, effective from Jun 1
Universal/Reciprocal	2025.04.05	10% universal tariffs on all imports across the world are in effect
Item	2025.04.03	25% tariffs on imported cars are in effect
Universal/Reciprocal	2025.04.02	President Trump declared 'Liberation Day' and announced universal/reciprocal tariffs under the International Emergency Economic Powers Act (IEEPA): (Universal) A blanket 10% tariffs on imports from all countries are effective from Apr 5 (Reciprocal) Additional tariffs according to the trade barrier levels by country will be effective from Apr 9 Vietnam 46%, Myanmar 45%, Thailand 37%, China 34%, Taiwan 32%, Indonesia 32%, Switzerland 32%, South Africa 31%, India 27%, South Korea 26%, Malaysia 24%, Japan 24%, EU 20%, Israel 17%, etc. Canada/Mexico are exempted from universal/reciprocal tariffs Not applied cumulatively with item-specific tariffs
De Minimis	2025.04.02	Levied tariffs on small parcels valued under $800 from China/Hong Kong, effective from May 2 Select between Ad Valorem tax or Specific tax conditions Ad Valorem tax: Impose 30% of product price, effective from May 2 Specific tax: $25 by item, effective from May 2 → $50 by item, effective from Jun 1
Item	2025.03.12	25% tariffs on steel, aluminum and derivate products (bolts, nuts, springs, etc.) are come into force
Fentanyl Issue	2025.03.06	Under the USMCA (North American Free Trade Agreement), Mexican/Canadian products meeting the rules of origin requirements are exempted from the 25% tariff
Fentanyl Issue	2025.03.04	25% tariffs on Mexico/Canada and additional 10% on China in effect
Fentanyl Issue	2025.02.04	10% tariffs on China in effect
Fentanyl Issue	2025.02.03	Announced to pause 25% tariffs on Mexico/Canada for a month (by Mar 3)
Fentanyl Issue	2025.02.01	Announcement of 25% tariffs on Mexico/Canada and 10% on China due to concerns over illegal immigration and influx of fentanyl was made

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Market Intelligence U.S. Tariff Policy: A Quick Overview

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