Here is a shortened list of some of the countries and the reciprocal tariff rates that were recently announced to see how much they will impact your business and you personally.
This is an abbreviated list Per The White House’s website, along with information regarding Canada and Mexico:
| Country | Reciprocal Tariff, Adjusted |
| China | 34% |
| European Union | 20% |
| India | 26% |
| Indonesia | 32% |
| Israel | 17% |
| Japan | 24% |
| Malaysia | 24% |
| Philippines | 17% |
| South Africa | 30% |
| South Korea | 25% |
| Taiwan | 32% |
| Venezuela | 15% |
| Vietnam | 46% |
For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect, and are unaffected by this order. This means USMCA compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration IEEPA orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff.
If you know a business owner who can benefit from our services, then we would appreciate your referral.
And if you like what you just read, then don’t hesitate to forward to your friends, and/or click “Like” on LinkedIn!
Make sure to subscribe to our weekly emails to receive practical business, financial and tax strategies! Sign Up Now!