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The US Government has announced the details of the reciprocal tariffs to be implemented on April 5th at 12:01 EST. Below are the key takeaways from the Executive Order:
For Canadian and Mexican Origin Goods:
The current preferential tariff treatment allowed under USMCA/CUSMA/T-MEC will continue for qualifying goods. Canadian and Mexican goods will benefit from a 0% tariff rate, provided they meet the regional value content for USMCA/CUSMA/T-MEC applicability.
Canadian and Mexican-originating goods that do not qualify for USMCA/CUSMA/T-MEC will continue to receive an additional 25% tariff and energy goods at 10%. Should the International Emergency Economic Powers Act (IEEPA), through which these tariffs were originally imposed, be terminated, these tariffs will be replaced with a 12% tariff on all non-USMCA qualifying goods.
The previously reported steel, aluminum, automotive, and auto part tariffs will remain in place.
For All Other Foreign Origin Goods:
All other countries will receive a 10% minimum tariff on imports into the US, with additional tariffs for certain countries as listed here.
To be kept abreast of the latest as it happens, you are encouraged to:
