Tariff and Trade Investigation Tracker

Supreme Court case on reciprocal tariffs

The Supreme Court has agreed to hear a challenge to the Trump administration's tariffs imposed via the International Economic Emergency Powers Act, with oral arguments set to take place on November 5.

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 upheld by the Court of Appeals for the Federal Circuit on August 29.

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.

Reciprocal tariffs

The Trump administration has made multiple modifications to its reciprocal tariffs since they were announced on April 2. New duties are set to come into effect on August 7, a full list of which are in the table above.

The United States has ordered an additional 40% tariff on top of country-specific reciprocal tariffs to be placed on goods it determines to have been transshipped to avoid duties. It has not defined how it would conclude if a product has been transshipped.

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%.

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.

China tariffs

The U.S. and China announced a trade framework on June 11. China confirmed the agreement on June 27. 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 in October restricted the exports of rare earths and critical minerals, despite agreeing not to do so in the framework agreement. China dominates the rare earths supply chain and holds nearly half of the world's reserves.

China has also stopped purchasing U.S. soybeans, which historically are among the top U.S. agriculture exports. In response, the U.S. has threatened to end purchases of cooking oil from China.

In October, the United States began charging additional fees on ships docking in the U.S. that are part of a Chinese-owned shipping line or are Chinese-built even if not part of a Chinese-owned shipping line. China has announced a retaliatory fee on vessels docking in China built, owned, or operated by U.S. companies.

China is not exempt from other U.S. trade measures, such as the sector and product-specific Section 232 tariffs.

Prior to the June agreement, 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.

On September 15, China found that Nvidia's (NVDA +0.62%) 2020 acquisition of Mellanox Technologies violated its anti-monopoly laws but did not announce penalties on the company.

China previously suspended imports of logs and soybeans from certain U.S. companies. China placed export controls on 15 U.S. companies, placed 10 on its Unreliable Entity list, and prohibited imports of gene sequencers from Illumina (ILMN +0.45%) in addition to other nontariff measures.

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 (BA -0.21%) 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 also agreed to approve U.S. automotive standards and lift unspecified restrictions on U.S. auto and truck imports.

Japan secured a commitment from the United States that it would receive the lowest tariff rate on sectoral tariffs.

The U.S.-EU trade deal

The U.S. and European Union (EU) announced a trade agreement and framework for further negotiations on July 27 under which most EU goods will face a 15% tariff when entering the United States while U.S. industrial goods exported to the EU will face no tariffs and seafood and agricultural products will receive preferential tariff rates.

The United States will apply the lower of its Most Favored Nation (MFN) tariff rate or a 15% tariff to the following products from the EU: unavailable natural resources, aircraft and aircraft parts, and generic pharmaceuticals and their ingredients and chemical precursors.

The U.S. has also agreed to cap its applied tariffs on EU-origin pharmaceuticals, semiconductors, and lumber at 15%.

Once the EU introduces legislation for tariff reductions, the U,S. will cut Section 232 tariffs on EU autos and auto parts as follows:

• No Section 232 tariffs if MFN tariff is less than or equal to 15%.
• If MFN tariff is greater than 15%, total tariff (MFN + Section 232) will be set at 15%.

The U.S, and EU will explore cooperation on steel, aluminum, and derivatives to prevent overcapacity and secure supply chains, possibly through tariff-rate quotas.

The EU also agreed to buy $750 worth of U.S. energy, invest $600 billion in the United States, and procure additional military equipment from the U.S.

The two economies agreed to discuss reducing non-tariff barriers, including those that relate to auto safety standards and agricultural trade.

The U.S.-South Korea trade deal

On July 30, President Trump announced a trade agreement with South Korea that would subject South Korean goods to a 15% tariff, which would not stack with existing automobile and parts duties. The deal includes a commitment from South Korea to buy $100 billion worth of liquified natural gas from the United States and to invest $350 billion in the United States.

Sectoral tariffs, product-specific tariffs, and other tariffs

Steel and aluminum tariffs

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.

Auto 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 auto 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

Effective August 1, a 50% tariff will be imposed on imports of semi-finished copper and and copper-intensive derivative products.

Semiconductor tariffs

On August 6, President Trump threatened to impose a 100% tariff on semiconductor imports except on those from companies that are moving production to the United States.

A Section 232 national security investigation into semiconductor imports was launched on April 1.

Pharmaceutical tariffs

On September 25, President Trump threatened to impose a 100% tariff on imports of branded and patented pharmaceuticals starting on October 1, with exemptions available for companies that manufacture drugs in the U.S. or have plans to do so. Tariffs were not put in place on October 1 and a new imposition date has not been announced.

The European Union, specifically Ireland, is a major supplier of U.S. drug imports, and the U.S.-EU trade agreement signed in July caps U.S. pharmaceutical tariffs on EU exports at 15%.

Truck tariffs

On September 25, President Trump announced a 25% tariff on imports of heavy-duty trucks beginning on November 1. It is not clear whether those tariffs will apply to truck imports that are compliant with USMCA and face zero duty. Mexico and Canada are the primary suppliers of U.S. heavy-duty truck imports.

President Trump said the tariffs are meant to protect Peterbilt, Kenworth, Freightliner, Mack Trucks, "and others."

Furniture tariffs

Kitchen cabinets, bathroom vanities, associated products, and upholstered furniture will be subject to a 25% tariff starting on October 1. The tariffs for cabinets and vanities will increase to 50% on January 1 and the tariffs on upholstered furniture will increase to 30%.

Vietnam, China, Canada, and Mexico are leading furniture exporters to the U.S.

Timber and lumber tariffs

Softwood lumber will be subject to a 10% tariff beginning on October 14. Used primarily in homebuilding, construction, and furniture, the majority of U.S. softwood lumber imports come from Canada. The U.S. and Canada have a long-running dispute over softwood lumber, and Canadian imports are regularly subject to antidumping and countervailing duties.

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

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.

Brazil

The United States has threatened Brazil with a 50% tariff on its exports to the United States, with many exemptions including for orange juice and aircraft parts, which would come into force on August 6. The tariffs are meant to penalize Brazil for its prosecution of former President Jair Bolsonaro, who is accused of participating in an attempted coup.

India

The United States imposed a 50% tariff on Indian goods, half of which is the reciprocal tariff rate and the other half as a penalty for India purchasing Russian oil.