Latest tariff updates: Key changes and impacts
The last month has seen a dizzying amount of activity around tariffs. First, U.S. tariffs on China imports under Section 301 have increased 20% since the beginning of the year. These could remain in place for some time. Learn more in this C.H. Robinson client advisory.
On March 4, 25% tariffs on all goods from Mexico and Canada were implemented under a U.S. presidential emergency order. We expect some implementation challenges across the supply chain as importers increase bond sizes, adjust to new procedures, and assess how long these tariffs will be applied. These tariffs could be subject to change, as negotiations continue and retaliatory tariffs are put in place.
A widely impactful increase in steel and aluminum tariffs is scheduled to begin March 12. The tariff rate for these products is slated to rise to 25%. Many importers may be surprised at the breadth of products included under this action.
In addition, the United States initiated several reports and investigations regarding reciprocal tariffs, copper, lumber products, and derivatives.
Finally, supply chain professionals should note that U.S. government funding expires on March 15. It is widely expected that the government may shut down for a period of time. Customs and other parts of the government could be deemed essential, but each industry may be impacted differently.
In this fast-moving time of change, we encourage you to keep your customs broker on speed dial and sign up for C.H. Robinson client advisories.