UPDATE: President Trump suspended all "reciprocal" tariff rates above 10% for 90 days effective 12:01AM Eastern on April 10, 2025. All countries, except for China, Canada and Mexico, will be subject to a base rate of 10%. Note that Canada and Mexico remain unaffected by these reciprocal tariffs. However, the rate for China is being raised from 84% to 125%. That is in addition to the 20% previously imposed. So, Chinese products will be subject to a rate of 145%, plus any section 301 tariff and any base rate.

NEFI's Trade Counsel, Micah Myers of Cozen O'Conner, has provided an updated Tariff Fact Sheet exclusively for NEFI members, which is now available at the member portal online here.