Tariffs
During the early months of 2025 US President Donald Trump announced a range of new tariffs on goods imported into the US, such as a 25% tariff on all foreign-made automobiles which came into effect on 3 April 2025.
Notably, on 2 April 2025 he announced an extensive new tariff package, the stated aim of which being to "rebalance global trade flows". The announcement set out plans for:
- A baseline 10% duty on all imports into the US (subject to certain exceptions) — to apply from 5 April 2025.
- Additional country-specific tariff increases, affecting imports from more than 60 countries and jurisdictions, including China and the European Union — to apply from 9 April 2025.
However, on 9 April 2025 Trump announced a 90-day pause on the higher country-specific tariffs — except for those applying to China, which were increased further.
Detailed information on US tariffs can be accessed via the following sources:
In addition, the ICAEW Library maintains a dedicated research guide on tariffs.
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