As tariff rates shift, U.S. importers must prepare for increased costs on Chinese goods and verify country of origin documentation to benefit from the 90-day suspension.
President Donald Trump declared a 90-day suspension of most new tariffs under his “reciprocal” trade policy. This suspension went into effect at midnight, following appeals from over 75 countries.
The temporary pause maintains a general 10% tariff on imports, with certain exceptions, such as vehicles, which still face a 25% rate. It also excludes goods from Mexico and Canada that are covered under the USMCA.
Moreover, Trump announced an immediate increase in tariffs on Chinese imports to 125%.
This follows China’s State Council Tariff Commission announcement of 84% tariffs on U.S. imports, an increase from 34% that is set to take effect on Thursday.
China is the world’s second-largest economy and a major trading partner for the U.S. In 2023, China's exports to the U.S. reached $501.22 billion, while in 2024, the U.S. exported goods valued at $144.6 billion to China.
The European Union, meanwhile, approved 25% tariffs on up to $23 billion in U.S. goods starting next week—in response to Trump’s tariffs on steel and aluminum that were imposed last month.
If you import goods from China, expect higher costs and take proactive measures to review your pricing strategies and evaluate your supply chains.
If you import goods from countries other than China, ensure the correct country of origin is declared to benefit from the 90-day suspension.
Additionally, consult your customs broker to stay informed about ongoing trade discussions, as trade agreements may develop in the upcoming period.
At Cole International, we offer customs and compliance consulting services to help importers navigate changing tariffs and regulations. We also provide timely and efficient customs brokerage services to streamline importing into the U.S.
Please reach out to one of our trade professionals to discuss the impact of these tariff changes on your business and how we can help you.