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3w ago

Trump Sets Final Reciprocal Tariffs of Up to 41 Percent Effective August 7

The move finalizes tailored rates with strict transit requirements alongside a 40 percent anti-evasion levy to pressure trade partners ahead of upcoming negotiations

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Overview

  • President Trump’s July 31 executive order locks in reciprocal tariffs from 10 to 41 percent for imports, taking effect at 12:01 a.m. Eastern on August 7, 2025.
  • Annex I designates top rates of 41 percent on Syrian goods, 40 percent on imports from Laos and Myanmar, and 39 percent on Swiss products, while all other partners face a 10 percent baseline except Canada, Mexico, North Korea, Russia and Belarus.
  • Tariffs stack on existing most-favored-nation duties with a 15 percent minimum applied to European Union shipments whose general duty rates fall below that threshold.
  • Shipments in transit on their final leg before August 7 remain exempt if entered by October 5, 2025, and U.S. Customs will impose a 40 percent penalty rate on transshipped goods deemed evasive.
  • The administration has announced framework pacts aligning Annex I rates with the EU, Indonesia, Japan, Philippines, South Korea, the UK and Vietnam, and it has extended talks on Mexico for 90 days as the U.S.-China tariff truce nears its August 12 expiry and Canada faces a 35 percent levy.