Once the U.S.-Japan deal is put to paper, Japanese goods will be subject to a flat 15% tariff, as long as the most-favored nation tariff that applies is at that rate or lower. For goods above 15% MFN, just the typical duty will apply, with no additional reciprocal tariff.
A recent CBP ruling saying gold bars are subject to reciprocal tariffs has sent shock waves through the gold futures market this week, according to news reports.
A group of trade associations that includes restaurants, wine shops, domestic distillers and bottle providers asked the president to allow European wines and spirits to enter the U.S. duty-free, in the case of spirits, and under most-favored nation rates, for wines, rather than the 15% EU reciprocal tariff rate.
Global air cargo volumes grew 5% year-over-year in July as shippers may have sought to front load goods ahead of U.S. tariff deadlines or expedite shipping amid market uncertainties, said Xeneta, a Norway-based freight rate market analytics firm. The company thinks this means "more shippers opted for the speed of airfreight to help circumvent U.S. tariffs."
A 40% tariff on transshipped goods could apply to goods that include third-country content above 30%, according to Commerce Secretary Howard Lutnick, speaking on Fox Business Aug. 7.
CBP created Harmonized System Updates 2530 and 2531 on Aug. 5. HSU 2530 contains 404 Automated Broker Interface records and 135 Harmonized Tariff Schedule records. HSU 2531 contains four ABI records and two HTS records. HSU 2530 includes the additional duties on imports from Brazil effective Aug. 6, the reciprocal tariff updates effective Aug. 7, and miscellaneous tariff adjustments required by verification of the 2025 HTS. HSU 2531 includes an update to the countries of origin for the EU reciprocal tariffs.
On Aug. 27, Indian goods that are currently subject to reciprocal tariffs will be tariffed at an additional 25%, on top of the 25% reciprocal tariff set to take effect Aug. 7, the White House announced.
Thompson Hine trade lawyer Dan Ujczo, who has expertise in North American trade and, particularly, automotive trade in the USMCA region, said the way the carve-outs to 25% Section 232 tariffs have been shaking out has surprised him -- and, he believes, has surprised countries that are automaking powerhouses.
The U.S. will impose another additional 25% tariff on India beginning Aug. 27 to address India’s imports of Russian oil, said President Donald Trump in an executive order issued Aug. 6.
European Commission trade spokesperson Olof Gill, in a briefing in Brussels, said that the U.S. intention to allow some European steel to be imported without facing a 50% tariff will be in the forthcoming joint statement on the trade agreement. He said the work to set up the quota would follow.