The story of President Trump and tariffs with "Liberation Day" is about the opening salvo of a global trade war. The list of countries that are targeted for tariffs is extensive and is shown below. Many are trade suppliers and partners. Those not listed, like Russia, have 10% tariffs. Canada and Mexico are not subject, right now. Note, that these are tariffs on top of existing tariffs. So, China's 34% is in addition to the 20% for a 54% duty. Things start April 5.
What will happen next? Reciprocal acts by other countries? What will it mean to US exporters? Retaliation by Trump?
How will US importers manage the exponential supply chain chaos? How will they adapt? Or can they? Will supply chains break? Uncertainty has a new meaning. Is your customs broker ready? What about maritime and logistics?
*As you prepped for and/or are dealing with Trump tariffs and trade wars, how well have you assessed and reassessed your HTS Harmonized Tariff Schedules for your products?
Ask: How does AI work with Trump supply chain chaos, uncertainty, and trade wars?
President Trump's tariffs as of April 13:
• “reciprocal” but actually non-reciprocal/much higher tariffs on everyone
• tariffs down to 10% on everyone for 90 days
• 50% more tariffs on China
• except computers and electronics
• but maybe on computers and electronics *rules and restrictions may apply
Stay tuned. Stay alert.
