- Tariff Policy Changes: On April 9, 2025, President Trump announced a 90-day pause on country-specific tariffs while increasing tariffs on Chinese goods to 125% and modifying de minimis duties on low-value imports from China and Hong Kong, significantly raising costs for these goods.
- International Reactions: In response to the U.S. tariffs, China imposed additional tariffs of 84%, escalating to 125% on April 11, 2025, while the European Union announced 25% duties on U.S. goods, which were paused for 90 days following Trump’s tariff suspension.
- Business Considerations: Companies importing into the U.S. are advised to assess the impacts of these tariff changes on their operations, including reviewing contracts, considering customs valuation, and staying inf
Source EY
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