The United States has started imposing a temporary 10% global import tariff as of Tuesday, February 24th, according to a notice from the U.S. Customs and Border Protection (CBP) based on an executive order issued by President Trump last week. The notice stated that, with exceptions for exempted products, all imported goods will be subject to an additional 10% ad valorem tax.
President Trump initially signed an executive order last Friday, implementing a 10% tariff under Section 122 for a 150-day period to replace the comprehensive tariffs imposed under the previous emergency legislation that had been overturned by the Supreme Court. However, on Saturday, he announced that the tariff rate would be raised to 15%.
Under Section 122, the president has the authority to impose new tariffs for a maximum period of 150 days to address “massive and serious” international balance of payments deficits and “fundamental international payment problems.”
Trump’s tariff executive order pointed out that the U.S. faces significant international balance of payments deficits, such as an annual $1.2 trillion goods trade deficit, a 4% GDP current account deficit, and a reversal of primary income surplus. Some economists and trade lawyers argue that the U.S. is not currently facing an international balance of payments crisis, so the new tariffs may face legal challenges.
On Monday, Trump warned countries not to violate previous trade agreements with the U.S. and cautioned that if they do, he will impose higher tariffs on them under different laws.
Japan has requested the U.S. to ensure that its treatment under the new tariff system is as favorable as under the existing agreements. The European Union, the United Kingdom, and Taiwan have also expressed a willingness to continue adhering to existing agreements.
Maros Sefcovic, Trade Minister of the European Commission, stated that the EU is in a “transitional period” regarding the new temporary U.S. tariffs issue but added that U.S. trade officials have assured him that Washington will abide by agreements negotiated previously.
The Chinese Ministry of Commerce issued a statement on Tuesday urging the U.S. to abandon unilateral tariffs and expressing willingness to engage in a new round of trade negotiations with the U.S.
The following are the tariffs imposed by the U.S. on different countries (including effective tariffs and warned tariffs), excluding specific industry taxes (except for China). Generally, the final tariff rates paid will be cumulative.
This is a summary of publicly available information (compiled by Dajiyuan).