On 2^nd April, the US administration announced a reciprocal tariff policy to rebalance global trade flows by imposing an additional ad valorem duty on trading partners in the interests of national security.

In summary:

Section2 & 3 - an additional ad valorem duty will start at 10% on imports into America from all countries on 5^th April and shall be readjusted for all those countries in Annex 1 from 9^th April. 

ANNEX I Countries and Territories Reciprocal Tariffs adjusted:

Algeria 30%
Angola 32%
Bangladesh 37%
Bosnia and Herzegovina 36%
Botswana 38%
Brunei 24%
Cambodia 49%
Cameroon 12%
Chad 13%
China 34%
Côte d`Ivoire 21%
Democratic Republic of the Congo 11%
Equatorial Guinea 13%
European Union 20%
Falkland Islands 42%
Fiji 32%
Guyana 38%
India 27%
Indonesia 32%
Iraq 39%
Israel 17%
Japan 24%
Jordan 20%
Kazakhstan 27%
Laos 48%
Lesotho 50%
Libya 31%
Liechtenstein 37%
Madagascar 47%
Malawi 18%
Malaysia 24%
Mauritius 40%
Moldova 31%
Mozambique 16%
Myanmar (Burma) 45%
Namibia 21%
Nauru 30%
Nicaragua 19%
Nigeria 14%
North Macedonia 33%
Norway 16%
Pakistan 30%
Philippines 18%
Serbia 38%
South Africa 31%
South Korea 26%
Sri Lanka 44%
Switzerland 32%
Syria 41%
Taiwan 32%
Thailand 37%
Tunisia 28%
Vanuatu 23%
Venezuela 15%
Vietnam 46%
Zambia 17%
Zimbabwe 18%

Annex II sets out all the goods that are not subject to tariffs (see Executive Order below).

Canada and Mexico are not subject to the ad valorem duties in this Order but subject to tariffs under previous Orders addressing issues on Northern and Southern Borders – see earlier circulars.

Section 4 - Should any trading partner retaliate in response to this action, the Executive Order states that duties could be increased or decreased or scope of duties limited if situation is remedied.

Please refer to the Executive Order for full details at: Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits – The White House

Fact sheet: Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security – The White House

Further Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People's Republic of China as Applied to Low-Value Imports – The White House

Disclaimer
All Gafta Circulars and Notices are provided to Members purely for the purposes of information. We have not taken any steps to verify the accuracy of the information provided and, accordingly, Members must obtain their own independent professional advice as to its content and effect. We cannot accept any liability, howsoever arising, for any loss or damage which may be caused by any reliance on any information contained in a Gafta Circular or Notice.