Trump Tariffs: What's In, What's Postponed and What's Coming

After a whirlwind first three weeks in office, President Trump has been making his mark on global trade through amendments to US customs tariff rates, but not everything has gone exactly to plan.

From the UK's perspective, his most recent comments came last week, where he suggested that he was confident the UK situation “can be worked out”, which is believed to mean without tariffs. However, for the EU he stated that tariffs would 'definitely happen'.

It has not always been clear which of his comments are threats and which will be followed through. Therefore, below is a summary of his official actions so far.

1st Feb – 25% Duty For Canada and Mexico – SINCE DELAYED
These actions were both postponed for 30 days within 48 hours of being announced, following phone calls with the Canadian and Mexican presidents. They are seemingly on hold, subject to the respective countries improving security to fight illegal drugs entering the US.

1st Feb  – 10% Duty hike on imports from China – NOW LIVE
The increases in duty were introduced from 4th February, China has retaliated with their own tariff hikes on some US products.

1st Feb  – Cancellation of de minimis trade exemption – SINCE DELAYED‍
This was an executive order to cancel the existing rule that enables goods valued under $800 to be imported duty free. However, US Customs and the US Postal Service were unable to manage the duty collections, so the order has been postponed until such time as they can.

10th Feb – 25% tariff on all steel and aluminium imports – GOING LIVE MAR 12th
Trump confirmed the new tariff this week, with no exceptions. Several countries are trying to negotiate exemptions, others have suggested imposing retaliatory tariffs.

Of course, Croft cargo is monitoring developments closely, especially with regard to those that impact the UK.

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