Information on new or expanded tariffs has been streaming in over the past week, with Canada, China, and Mexico seeing implementation dates imposed with little official notice. As it currently stands, goods of Mexican origin are being assessed a 25% tariff. Most goods of Canadian origin are also being assessed a 25% tariff, but energy sector products such as crude oil and natural gas are being assessed 10% tariffs. There are very limited exceptions for informational materials and personal goods in baggage accompanying persons arriving in the US.
More complex is the IEEPA tariffs imposed on goods of Chinese origin. Depending on the timing of the shipments, goods could be subject to a 10% or 20% tariff or entered under an exemption. These tariffs merit a brief breakdown as follows:
Both Canada and China implemented retaliatory tariffs on select US products, and China added 15 US companies to their export control list. Mexico’s president has indicated that retaliatory tariffs will be announced this weekend, but that she expected to have a call with President Trump this week.
Section 232 tariffs of 25% on an expanded list of steel and aluminum products are expected to go into effect on March 12. More tariff actions, including a reciprocal tariff for some trade partners, may be implemented as early as April 2.
Best Regards,
Sam McClure, LCB
Director of Compliance & Customs Services