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.
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. A separate deal with China was announced on May 12, which lowers U.S. tariffs on Chinese goods from 145% to 30%, and Chinese tariffs on U.S. goods from 125% to 10%, for 90 days.
The initially revealed higher, country-specific reciprocal tariffs have been paused until July 9.
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 deal on May 12 that lowers U.S. tariffs on Chinese products from 145% to 30% and Chinese tariffs on U.S. products from 125% to 10% for 90 days. China also agreed to remove other countermeasures it had imposed in response to the U.S. tariffs, including export restrictions on rare earth minerals. 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 foreignvessels will begin to phase in three years from now.
Steel and aluminum
Steel and aluminum
A 25% tariff on steel and aluminum imports and derivatives will be imposed on March 12. There will be 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
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.
