USA's new customs tariffs on imported goods
The USA has announced that, effective from April 9, 2025, an additional customs tariffs of at least 10% will be imposed on all goods imported into the USA. Additionally, higher customs tariffs have been announced for goods originating from 57 specific countries, which are listed below. The new customs tariffs are part of a broader trade strategy aimed at protecting American industry and jobs.
Higher customs tariffs for certain countries
For goods originating from 57 specific countries, higher individual customs tariffs will apply. Some of the most notable rates include:
Bangladesh: 37%
Cambodia: 49%
EU: 20%
India: 27%
Israel: 17%
Indonesia: 32%
Japan: 24%
China: 34%
Malaysia: 24%
Norway: 15%
Pakistan: 30%
Switzerland: 32%
Sri Lanka: 44%
South Africa: 31%
South Korea: 26%
Taiwan: 32%
Thailand: 37%
Turkey: 10%
UK: 10%
Ukraine: 10%
Vietnam: 46%
Exemptions from the payment of additional customs duties
Certain goods imported into the USA will be completely exempt from this additional customs duties. These include:
Goods that, under the USA's preference agreement ("New-NAFTA") with Canada and Mexico, have preferential origin in these countries
Certain energy products
Pharmaceuticals, defined as goods under HS codes 30.02, 30.03, and 30.04 (and 30.06)
Steel and aluminum products, which are already subject to special additional customs duties
Automobiles and parts thereof, which are also already subject to a special additional customs duties of 25% on all foreign-produced automobiles. This additional customs duty is already in effect.
New rules for low-value shipments from China
Finally, the USA has announced new rules for customs duties on low-value shipments from China (including Hong Kong). This means that the minimum threshold, which has previously been set at 800 USD, will be removed, and American importers will have to pay either 10% in customs tariffs or (at the importer's choice) 30 USD (soon 50 USD) for such shipments.
EU announces extra customs duties on goods Imported from the USA
The EU's expected additional customs duties are a response to trade disputes between the EU and the USA, where the EU believes that certain American goods have received unfair trade advantages. By imposing extra customs tariffs, the EU hopes to level these advantages and create a more balanced trade environment.
Affected goods
The specific goods that will be subject to the announced additional customs duties have not yet been fully specified, but it is expected to include a wide range of products. Companies that import goods from the USA should therefore be aware of the expected changes and prepare for potential economic consequences.
What can you do?
Companies that rely on imports from the USA or sales to the USA may experience increased costs as a result of the new trade barriers. It is therefore important that these companies begin to plan and assess alternative suppliers or adjust their budgets to mitigate potential price increases.
Contact us
Reach out to us, and we can discuss:
Supply Chain: Identify which products may be affected by the additional customs tariffs and explore alternative suppliers.
Special Customs Procedures: Assess whether there are special procedures that can help reduce customs duty payments.
Budget Adjustment: Adjust budgets to account for potential price increases.
Strategic Planning: Develop a long-term strategy to minimize the impact of the additional customs duties on the company's operations. This could include discussions about changing the supply chain, opportunities to change the customs value, the possibility of using the first sale principle, etc.
Review of Transfer Pricing Policies: To ensure consistency between transfer pricing and customs, these should be reviewed.
Contact
Dorthe Higham
