With growing uncertainty surrounding Chinese import tariffs and higher consequent costs, U.S. importers must start reviewing their supply chains and sourcing plans.
The Trump administration has confirmed that the tariffs on Chinese imports, including those from Hong Kong and Macau, have now reached 145%.
In an executive order published on Thursday, Trump announced raising reciprocal tariffs on Beijing to 125%. This comes in addition to 20% in fentanyl-related tariffs imposed in February and March.
In response, on Friday, the Chinese finance ministry announced it would raise its tariffs on U.S. imports from 84% to 125%.
A spokesperson for the Chinese Commerce Ministry stated that the essence of the China-U.S. economic and trade relationship is mutual benefit and win-win cooperation and that Beijing is open to consultations with the U.S.
The White House has also announced further increases to de minimis duty rates to prevent the circumvention of the increased tariffs. The following measures are now in place:
Apart from the 145% tariffs on Chinese imports, the following tariff rates apply to other trading partners:
Additionally, tariffs on lumber, copper, pharmaceuticals, and semiconductors can be expected soon.
On April 2, Trump officially announced country-specific reciprocal tariffs on all U.S. trading partners.
A 90-day pause was confirmed on Wednesday—following appeals from over 75 countries.
The European Union (EU), in response, approved 25% tariffs on up to $23 billion in U.S. goods. The tariffs were later suspended following Trump’s pause on his reciprocal tariffs on the EU.
If you import goods from China, expect higher costs and consider evaluating your pricing strategies and supply chains.
We also recommend consulting your customs broker to stay updated on potential trade discussions, which could result in further tariff changes.
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 the increased tariffs on Chinese imports on your business and how we can help.