- New Tariffs Imposed: On 31 July 2025, President Trump issued an Executive Order establishing additional ad valorem duties effective 7 August 2025, imposing a 15% duty on EU goods with a Column 1 Duty Rate below 15% and a 10% duty on goods from non-listed trading partners.
- Business Adaptation Required: Companies must closely monitor trade developments, assess impacts on supply chains, and implement strategies like valuation planning and duty deferral to manage compliance and cost exposure effectively.
- Provisions and Recommendations: The Executive Order includes measures against transshipment to evade duties, and businesses should track import entry dates, utilize Foreign Trade Zones for cash flow management, and review their import bonds to navigate the new tariffs successfully.
Source EY
