RECENT NEWS BY OCEANAIR ABOUT THE US TARIFFS
- barboraarendasova
- Apr 5
- 2 min read
Updated: Apr 7
A few days ago, calling a declaration of economic independence, US President Trump announced a “gentle” global reciprocal tariff from the White House lawn, set to take effect for all new imports with a rolling start. Tariff rates have been determined based on other nations' existing tariffs, as well as nonmonetary trade barriers such as intellectual property policies, currency manipulation, and value-added taxes (VAT).
A universal 10% tariff will took effect on April 5 for all countries, with specific rates applied to designated nations starting April 9. These include a 34% tariff on imports from China, 20% for EU nations, 46% for Vietnam, 32% for Taiwan, and 17% for Israel. The President noted that these rates represent an average of half the tariffs imposed on U.S. exports. See a tariff list per country.
Notably absent from the announcement are Canada, Mexico, and Russia. This tariff will be applied in addition to any existing duties and taxes. Additionally, a 25% tariff on automotive imports and certain automotive parts will take effect at midnight on May 3.
The announcement did not address USMCA-qualified goods currently under a suspended 25% tariff, nor Venezuela’s indirect and tertiary tariffs. The omission of Canada and Mexico raises concerns among domestic autoworkers reliant on foreign parts. However, the newly issued executive order includes provisions allowing for USMCA-qualified automotive parts while outlining a framework that exempts only U.S.-origin materials and components.
Source: Oceanair LinkedIn
De minimis- yes or not?
A recent policy shift will end duty-free de minimis treatment for shipments from China, Hong Kong, and Macau, starting May 2, 2025. Previously, low-value shipments (under US$800) could enter the U.S. without duties or extensive scrutiny. However, changes now require duties on these products according to the Harmonized Tariff Schedule, disrupting supply chains and postal services, especially affecting e-commerce.
The new rules apply a 30% ad valorem duty or a $25 fee per postal item, increasing to $50 on June 1. U.S. Customs may reject shipments or require formal entries, depending on the circumstances. While de minimis treatment remains for goods from countries other than China, further regulations will ensure compliance. This change aims to level the playing field for traditional retailers and e-commerce suppliers.
As additional specifics emerge, OCEANAIR will continue to keep our clients informed.
