Universal tariff
Using the authority of the International Emergency Economic Powers Act of 1977 (IEEPA), the President signed an Executive Order confirming that on April 5th, 2025, a 10% tariff on all imported products from all countries will be imposed.
These tariffs shall apply to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on April 5, 2025, except for goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. eastern daylight time on April 5, 2025, and entered for consumption or withdrawn from warehouse for consumption after 12:01 a.m. eastern daylight time on April 5, 2025, shall not be subject to such additional duty.
Tariffs on cars
As announced earlier, a 25% tariff will apply to cars as of April 3rd, 2025. If a car is built in the U.S., there will be no tariff, and parts covered under the United States–Mexico–Canada Agreement (USMCA) trade deal will not be impacted initially.
Reciprocal tariffs
The Executive Order also imposes higher country-specific rates to countries deemed to have excessive tariffs and trade barriers against U.S. products imported into their country.
Although not specified in the Executive Order, at a Rose Garden event on April 2nd the President indicated that the following tariff rates would apply to these countries:
• 49% on Cambodian goods
• 48% on Laotian goods
• 47% on goods from Madagascar
• 46% on Vietnamese goods
• 44% on Sri Lankan goods
• 44% on goods from Myanmar
• 37% on Serbian goods
• 37% on goods from Botswana
• 37% on Bangladeshi goods
• 36% on Thai goods
• 34% on Chinese goods
• 32% on Taiwanese goods
• 32% on Indonesian goods
• 31% on Swiss goods
• 30% on South African goods
• 29% on Pakistani goods
• 28% on Tunisian goods
• 27% on Kazakh goods
• 26% on Indian goods
• 25% on South Korean goods
• 24% on Malaysian goods
• 24% on Japanese goods
• 21% on goods from Cote D'Ivoire
• 20% on Jordanian goods
• 20% on EU goods
• 18% on Nicaraguan goods
• 17% on Israeli goods
• 17% on Filipino goods
• 15% on Norwegian goods
Those duties will apply to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on April 9, 2025, except for goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. eastern daylight time on April 9, 2025, and entered for consumption or withdrawn from warehouse for consumption after 12:01 a.m. eastern daylight time on April 9, 2025, shall not be subject to these country-specific ad valorem rates of duty set forth in Annex I to the Order.
Additional details and countries will be updated after the publication of the Executive Order. Expect U.S. Customs and Border Protection (“CBP”) to also issue guidance on how the entries should be filed.