Current U.S. Tariffs

Baseline Tariffs

• A 10% tariff applies to imports from several countries, including Australia, Canada, and Mexico.
• These tariffs were introduced as part of a broader effort to balance trade relations and protect domestic industries.

China Tariffs

• Initially set at 145%, these tariffs were reduced to 30% for a 90-day period starting May 14, 2025.
• The reduction is part of ongoing negotiations between the U.S. and China to ease trade tensions.
• The 30% tariff is set to expire on August 12, 2025, unless further agreements are reached.

India Tariffs

• A 26% tariff was imposed on Indian imports, particularly targeting textiles, jewelry, and automotive parts.
• India and the U.S. are accelerating negotiations to conclude an interim trade agreement by late June 2025, aiming to avoid new tariffs and seeking a full rollback of the April 2, 2025 tariff hikes.
• The 90-day suspension of new tariffs is set to end on July 8, 2025.

European Union Tariffs

• A 20% tariff was announced, with additional duties on automobiles.
• The European Commission is actively negotiating with the U.S. to secure a deal that works for both sides.
• The 90-day pause on these tariffs is set to expire on July 8, 2025.

UK Trade Deal

• The U.S. and UK signed a trade agreement that expands U.S. market access and includes reciprocal tariffs on vehicles.
• The first 100,000 vehicles imported annually into the U.S. will face a 10% tariff, with additional vehicles subject to 25%.
• The 10% reciprocal tariff took effect on April 2, 2025.

Trade Agreements and Negotiations

India-U.S. Trade Talks

• India and the U.S. are working toward an interim trade agreement to avoid new tariffs and boost exports.
• India is pressing for a full rollback of the April 2 tariffs and opposing U.S. demands for 60% domestic value addition in trade deals.
• The final round of negotiations is expected to take place in New Delhi on June 5 or 6, 2025.

UK-U.S. Agreement

• The UK and U.S. reached a deal that strengthens trade relations and removes certain barriers.
• However, the agreement has faced challenges due to legal rulings that question the validity of Trump’s sweeping tariff policies.

China-U.S. Negotiations

• The U.S. and China agreed to suspend tariffs for 90 days, reducing duties on Chinese goods.
• The U.S. will reduce tariffs on Chinese products from 145% to 30%, while China’s tariffs will be reduced from 125% to 10% by May 14, 2025.
• The 30% tariff is set to expire on August 12, 2025, unless further agreements are reached.

Worldwide Tariffs and Trade Agreements

Trade policies across the globe have been evolving rapidly, with several nations adjusting their tariffs and trade agreements in response to economic shifts and geopolitical developments.

European Union Tariffs

• The EU has imposed 25% tariffs on U.S. steel and aluminum imports in retaliation for U.S. trade policies.
• Negotiations between the EU and U.S. are ongoing, with a deadline set for July 15, 2025 to reach a resolution.

China’s Global Trade Policies

• China has increased tariffs on U.S. agricultural products, including soybeans and pork, by 35%.
• China has also imposed 20% tariffs on European-made automobiles, citing unfair trade practices.

Canada’s Response to U.S. Tariffs

• Canada has introduced 15% tariffs on U.S. dairy products and 10% tariffs on American-made machinery.
• Canadian officials are in talks with the U.S. to negotiate a revised trade agreement by August 1, 2025.

India’s Trade Adjustments

• India has raised tariffs on Chinese electronics by 30%, citing concerns over market saturation.
• India and the EU are working on a free trade agreement that could eliminate tariffs on key exports by September 2025.

Global Trade Trends

• The World Trade Organization (WTO) has reported an increase in trade disputes, with over 50 cases filed in the first half of 2025.
• Several nations are exploring digital trade agreements to facilitate cross-border e-commerce and financial transactions.

The unpredictability of global tariff policies has led to uncertainty in international markets. Businesses are closely monitoring developments, as trade agreements and tariff adjustments can significantly impact supply chains, pricing, and investment decisions. The U.S. government, along with other major economies, continues to negotiate with key trade partners to refine its approach, balancing protectionist measures with economic growth.