The Trump administration has announced a variety of trade actions including tariffs and other measures that could impact U.S. imports and exports. The table below tracks the status of major trade and tariff actions and proposals, including a full list of reciprocal tariffs.
Full reciprocal tariff list and other trade actions
Important trade actions investors should watch
While the Trump administration has put in motion a large number of trade actions, some are more imminent and impactful than others.
Court of International Trade decision
On May 28, the Court of International Trade issued a decision enjoining the Trump administration's tariffs imposed via the International Economic Emergency Powers Act. That ruling was then paused by the Court of Appeals for the Federal Circuit. The court case affects tariffs including the 25% duties imposed on Canada and Mexico, 30% duties imposed on China, and the 10% global "reciprocal" tariff as well as the higher, delayed rates announced on April 2. The decision does not affect tariffs imposed via other statutes, such as the steel, aluminum, and automobile tariffs imposed via Section 232 or other tariffs on China imposed via Section 301.
The case may ultimately appear before the Supreme Court.
Reciprocal tariffs
Reciprocal tariffs
On April 2, the Trump administration announced reciprocal tariffs. Currently in effect are a 10% baseline tariff on all countries except Canada and Mexico which are exempt, although President Trump has threatened to impose a 35% tariff on Canadian goods and a 30% tariff on Mexican goods that do not comply with USMCA starting on August 1.
A trade framework with Vietnam announced in July would impose a 20% tariff on Vietnamese products and a 40% tariff on products transshipped through Vietnam.
A separate deal with China was announced on May 12, which lowers U.S. tariffs on Chinese goods from 145% to 55%, and Chinese tariffs on U.S. goods from 125% to 10%, for 90 days.
Higher, country-specific reciprocal tariffs have been paused until August 1.
Certain goods will be exempt from reciprocal tariffs, including energy and certain minerals not available in the United States. An exemption for computers, smartphones, and consumer electronics has been announced but the administration has suggested separate tariffs on those products and semiconductors are forthcoming.
Products already subject to other tariffs, like steel, aluminum, and vehicles and parts, will not be subject to the reciprocal tariffs. Products under investigation for potential tariffs are also exempt, including copper, pharmaceuticals, semiconductors, and lumber.
The table above has a full list of the reciprocal tariffs.
China
China
The U.S. and China announced a trade framework on June 11. China confirmed the agreement on June 27. Details are scarce, however reporting suggests that tariffs on Chinese goods will drop to 55% (a 10% baseline "reciprocal" rate, 20% fentanyl tariff via IEEPA, and 25% rate from the previous Trump administration's Section 301 investigation) and Chinese tariffs on U.S. goods will drop to 10%. China will resume exports of rare earth minerals, including magnets, to the U.S., and the U.S. will loosen export controls on ethane, semiconductor software, and jet engines, and not block Chinese students from attending U.S. colleges.
China will not be exempt from other U.S. trade measures, such as the sector and product-specific Section 232 tariffs.
Prior to that, the Trump administration had imposed a 145% tariff on Chinese products. That's the sum of an initial 34% reciprocal tariff rate plus additional duty hikes tariff in response to China's pledged retaliation, and a separate 20% tariff on all Chinese products.
China had imposed a 125% retaliatory duty on U.S. products and restricted trade with the U.S. in other ways, including by restricting the export of certain rare earth minerals and magnets. China also suspended imports of logs and soybeans from certain U.S. companies as well. China placed export controls on 15 U.S. companies, placed 10 on its Unreliable Entity list, and prohibited imports of gene sequencers from Illumina (NASDAQ:ILMN) in addition to other nontariff measures.
On April 17, the administration announced fees to be charged on Chinese-owned, operated, and built vessels that dock at U.S. ports, beginning on October 14, 2025. Chinese-owned or operated ships will pay fees starting at $50 per net ton of the arriving vessel and will rise to $140 over three years. Chinese-built ships face separate fees based on tonnage or container count, whichever is higher. There are exemptions for U.S.-majority-owned vessels, small ships, and specialized vessels. Fee remissions are available for operators that replace foreign vessels with U.S.-built ships. Foreign car-carrying ships face a $150 per car unit fee. Restrictions on shipping LNG with foreign vessels will begin to phase in three years from now.
On May 28, the Trump administration restricted the sale of electronic design automation software used to design semiconductors to China. A lifting of at least some of those restrictions appears to be part of the June framework agreement.
New trade deals
New trade deals
The Trump administration has announced trade agreements with the United Kingdom and Vietnam, alongside China, that enable these countries to avoid the steepest reciprocal tariffs introduced in April.
The U.S.-UK trade deal
The United States and United Kingdom announced on June 16 a trade agreement and framework for further negotiations. Under the agreement, the United States will maintain a 10% tariff on most imports from the UK, will lower tariffs on aircraft parts and engines from the UK to zero, and provide for an annual quota of 100,000 automobiles made in the UK to face a 10% tariff versus a 27.5% duty. The UK also secured an exemption from the 50% U.S. tariff on steel and aluminum, although those measures remain subject to further negotiation.
The U.S.-Vietnam trade deal
The United States and Vietnam announced on July 2 a trade agreement that subjects Vietnamese products to a 20% tariff and products transshipped from China through Vietnam to the U.S. to a 40% tariff. Vietnam was threatened with a 46% reciprocal tariff rate. There are no details on how the United States will determine whether a product from Vietnam has been transshipped through China. The Trump administration has voiced concern about China using third countries as platforms for product assembly and export to the United States in order to avoid duties.
President Trump claimed that Vietnam has agreed to lower its tariffs on U.S. products to zero as part of the agreement.
The U.S.-Indonesia trade deal
The United States and Indonesia confirmed on July 16 the outlines of a trade agreement in which the United States would apply a 19% tariff on Indonesian goods and U.S. exports to Indonesia would be tariff free. Indonesia has agreed to purchase $19 billion worth of U.S. goods, including 50 Boeing (NYSE:BA) aircraft, $15 billion in energy, and over $4 billion in agricultural products.
The Trump administration had threatened Indonesia with a 32% tariff starting on August 1. Indonesia had an $18 billion trade surplus with the United States in 2024.
The U.S.-Philippines trade deal
The United States announced a trade agreement with the Philippines on July 22 that imposes a 19% tariff on goods from that country. U.S. exports to the Philippines will face no tariffs under the agreement. Further details have not been released. The Trump administration had threatened the Philippines with a 20% tariff rate starting on August 1.
The U.S.-Japan trade deal
On July 22, the United States reached a trade agreement with Japan under which Japanese goods, including automobiles and auto parts, will face a 15% tariff when entering the United States. Japan will establish a $550 billion fund for investments in the United States in which the United States will receive 90% of the profits. Additional details on how the investment fund would operate have not been released.
Separate from the investment fund, Japan agreed to purchase 100 aircraft from Boeing, buy 75% more rice, increase agricultural and defense spending with U.S. companies, and engage in a liquified natural gas pipeline project in Alaska.
Japan secured a commitment from the United States that it would receive the lowest tariff rate on sectoral tariffs.
Steel and aluminum
Steel and aluminum
A 25% tariff on steel and aluminum imports and derivatives was imposed on March 12 and will be doubled to 50% on June 4. There are no product exclusions, and agreements previously struck between the U.S. and major exporting countries for exemptions will be terminated.
Automobiles
Automobile tariffs
On March 26, President Trump announced that a 25% tariff would be imposed on imports of automobiles and automobile parts starting on April 2, 2025. The tariffs will be added on top of existing duties. Tariffs on USMCA-compliant vehicles will apply only to non-U.S. content. Tariffs will not apply to USMCA-compliant auto parts until a process is determined to assess non-U.S. content.
On April 29, President Trump signed a pair of executive order to lessen the impact of the automobile and parts tariffs. One order exempts imported automobiles and parts from the separate 25% tariffs on foreign steel and aluminum. The other order allows automakers that assemble vehicles in the U.S. which have 85% U.S. or USMCA-compliant content to apply to offset 3.75% of the auto parts tariffs for the next year and 2.5% in the year after, after which the offset will no longer be available.
Copper tariffs
On July 8, President Trump announced a 50% tariff would be imposed on copper imports. Further details were not provided at the time of announcement.
iPhone & smartphone tariffs
iPhone and other smartphone tariffs
President Trump threatened on May 23 to impose a tariff of at least 25% on iPhones and other smartphones built outside of the United States. There was no implementation date attached to the threat.
President Trump had previously criticized Apple [NASDAQ:AAPL] for not building the iPhone in the U.S. despite the company committing to a $500 billion investment in the U.S., some of which will go towards expanding manufacturing and its relationships with U.S. suppliers.
The complex iPhone supply chain stretches throughout Asia, as do supply chains for most smartphones. Apple plans to move most U.S.-bound iPhone production from China to India by 2026 to reduce tariff and geopolitical risks. Moving iPhone production to the U.S. would take a massive effort.
Apple CEO Tim Cook had successfully lobbied President Trump in his first term for tariff carveouts and has continued to cultivate his personal relationship with the president.
Venezuelan oil and gas
Venezuelan oil and gas
President Trump has stated that starting on April 2, goods from countries which purchase Venezuelan oil and gas will be subject to a 25% tariff. China, the United States, and Cuba are major purchasers of crude oil from Venezuela.
