Tariff Increases Are Coming: How Importers Can Get Ahead of the Curve

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On July 7, 2025, the White House announced that the tariff pause granted to 14 U.S. trading partners will expire on August 1. These countries had originally been assigned steep reciprocal tariffs in April under the “Liberation Day” tariff program, which was introduced under Executive Order 14257. Those rates were temporarily suspended under Executive Order 14266, replaced by a uniform 10% tariff. With the release of Executive Order 14316, that grace period is now coming to an end.

Updated Tariffs Take Effect August 1

Unless country-specific agreements are reached before the deadline, updated tariffs will take effect on August 1. The latest figures, published by the International Trade Centre, outline both the original reciprocal tariff rates and the revised rates that will now apply.

Trade Partner	Average Tariff Pre-2025	Initial Reciprocal Tariff (April 2)	New Tariff Effective August 1
Myanmar	2%	44%	40%
Lao, PDR	4%	48%	40%
Cambodia	2%	49%	36%
Thailand	3%	36%	36%
Serbia	2%	37%	35%
Bangladesh	4%	37%	35%
Indonesia	2%	32%	32%
South Africa	1%	30%	30%
Bosnia and Herzegovina	2%	35%	30%
Korea, Republic of	0%	25%	25%
Tunisia	2%	28%	25%
Kazakhstan	2%	27%	25%
Japan	3%	24%	25%
Japan Update (07/23)			15%
Malaysia	4%	24%	25%

Tariff Updates for Canada, Mexico, and China

Trade deals are not likely to be reached for Canada, Mexico, and China by August 1. Canada is expected to face a 35% tariff on exports to the United States beginning August 1. While products that meet USMCA requirements may still be eligible for duty-free treatment, Executive Order 14312 formally authorizes the application of a 35% reciprocal tariff on Canadian-origin goods in the absence of a new bilateral agreement.

Mexico has been designated a 30% tariff rate under Executive Order 14310, also effective August 1, following the breakdown of negotiations over cross-border enforcement.

China remains in a separate category. Executive Order 14298, issued on May 12, extended China's tariff relief period, keeping the 10% reciprocal tariff in place until August 12. The Administration has not indicated whether higher country-specific tariffs will follow that date, but it has left open the possibility depending on the outcome of further discussions. Hong Kong and Macau remain covered under the same order and timeline.

What Importers Should Do Next

As these deadlines approach, this ongoing uncertainty should be taken seriously. Prepare for the possibility of further escalation or sudden shifts in U.S. trade policy. In the meantime, consider reevaluating your supply chain, exploring alternative sourcing options, and staying informed on any new policy changes.

Don't wait to find out how these shifting policies could impact your bottom line. Schedule a complimentary intake meeting with our office today.

Schedule Intake Meeting

Have questions? Give our office a call today at (917) 546-6997 or schedule an intake meeting, we would be happy to speak with you.

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