Administration delays reciprocal tariffs, announces new tariff rates

President Trump July 7 issued an executive order, “Extending the Modification of the Reciprocal Tariff Rates,” which extends the original July 9 reciprocal tariff freeze to Aug. 1, at which time the reciprocal tariff rate or newly announced rates will begin. The administration also announced revised tariff rates for 14 countries that would take effect on Aug. 1, and indicated additional revisions for other countries may be forthcoming.

A 10% universal tariff on imported goods from all countries that began April 5 remains in effect. The U.S. Court of International Trade May 28 blocked some of the administration’s tariffs under the International Emergency Economic Powers Act. However, the U.S. Court of Appeals for the Federal Circuit granted a temporary stay pending the Trump administration’s appeal.