- US - FURTHER MODIFYING THE RECIPROCAL TARIFF RATES
The US has published an Executive Order to further modify the reciprocal tariff rates amending Executive Order 14257 of 2nd April.
Countries and territories with which US has adjusted tariff rates are listed in Annex 1. Where concerns the EU, column 1 products with a duty of at least 15%, the additional duty will be zero. For those EU products with an ad valorem duty less than 15% in column 1, the sum of the current ad valorem duty rate and additional duty will be 15%.
For those countries or trading partners not listed in Annex 1, an additional 10% ad will be subject to 15% duty as per Executive Order 14257 unless otherwise agreed.
If there is a transhipment of goods to evade duties, a 40% ad valorem duty will apply.
This will apply 7 days from date of publication (31st July).
Full details at: https://www.whitehouse.gov/presidential-actions/2025/07/further-modifying-the-reciprocal-tariff-rates/
- AMENDMENT TO DUTIES TO ADDRESS THE FLOW OF ILLICIT DRUGS ACROSS OUR NORTHERN BORDER
The US Executive Order of 31st July, determines that, for the products of Canada that are subject to the additional ad valorem rate of duty of 25 percent, the additional ad valorem rate of duty shall increase from 25 percent to 35 percent.
(a) All articles that are subject to the additional ad valorem rate of duty of 25 percent under Executive Order 14193, as amended, shall instead be subject to an additional ad valorem rate of duty of 35 percent. Accordingly, the Harmonized Tariff Schedule of the United States (HTSUS) shall be modified as provided in the Annex to this order.
(b) The changes set forth herein shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on August 1, 2025.
Full details in: https://www.whitehouse.gov/presidential-actions/2025/07/amendment-to-duties-to-address-the-flow-of-illicit-drugs-across-our-northern-border-9350/
- Ambassador Greer Issues Statement on President Trump's Vision for a New System of International Trade
WASHINGTON — Today, U.S. Trade Representative Jamieson Greer issued a statement following President Trump's issuance of an Executive Order modifying the reciprocal tariff rates for certain countries to further address the national emergency posed by large and persistent annual U.S. goods trade deficits.
- US SUSPENDING DUTY-FREE DE MINIMIS TREATMENT FOR ALL COUNTRIES
As per above Executive Order of 30th July, it was determined that it is necessary and appropriate to suspend duty-free de minimis treatment under 19 U.S.C. 1321(a)(2)(C) on a global basis to deal with the emergency declared in Executive Order 14257, as amended.
The provisions of this order supersede section 2 of Executive Order 14256, as amended, with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on August 29, 2025.
Full details at: https://www.whitehouse.gov/presidential-actions/2025/07/suspending-duty-free-de-minimis-treatment-for-all-countries/
"Today is historic. For decades, American international economic policy has been subordinated to the industrial and trade policies of other countries. America had pursued a principle of economic efficiency at all costs – even where it meant the American industrial base was off-shored and our workers had to compete against unfair trade. Our trade deficit in goods ballooned to a massive $1.2 trillion in goods in 2024, which reflected a dangerous decline in U.S. manufacturing and manufacturing jobs.
President Trump is reversing all of that. Over the past few months, the President’s tariff program and the ensuing 'Trump Round' of trade negotiations have accomplished what the World Trade Organization and multilateral negotiations have not been able to achieve at scale: expansive new market access for U.S. exporters, increased tariffs to defend critical American industries, and trillions of new manufacturing investments and purchases of goods that will create great American jobs and help reassert American leadership in key strategic sectors. Many trading partners have been constructive, bold, and visionary in their commitment to this fundamental change initiated by the President. Global trade is now being organized around the principles of fair and balanced trade – all pursued in support of countries’ economic and national security. This new trading system will lower the U.S. trade deficit and lead to better outcomes for American workers, their families, and their communities. In the coming weeks, this new system will begin to take shape, as the Trump Administration works with trading partners on a common path to shared prosperity."
To read the Fact Sheet on the modification, please click here.
To read the Executive Order, please click here.
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