US Tariff Update on Key Asian Trade Partners

Following an eventful few weeks of tariff news, here is the current status of duties placed on several key Asian trade partners. The goal of this list is to provide clarification on what tariff amounts have been threatened and what's actually implemented.

China - Presently, there is a 30% tariff on US imports (20% on all products plus a 10% ad valorem tariff). A 34% reciprocal tariff is scheduled to be implemented on August 12.

Indonesia – On July 15, it was announced that an agreement was reached on a 19% tariff on imports. But no formal agreement has been signed and made public.

Vietnam – On July 2, it was announced that an agreement had been reached for 20% of Vietnamese goods and 40% for goods transshipped through the country. But no formal agreement has been signed and made public.

The following reciprocal tariffs are the latest amounts announced by the administration. Implementation is delayed until August 1. Note: the amount is in addition to a “Baseline” tariff of 10% currently in place.

India – 26% 

Cambodia – 36%

Malaysia – 25%

Thailand – 36%

Transmodal will continue to provide tariff updates on this key trading region. Contact us if you have any questions.