Perspective on global trade policy

Tariffs, global trade, & economic policy updates to track

The America First Trade Policy memorandum calls for a comprehensive review of U.S. trade policy, trade practices, and trade imbalances. The memorandum outlines trade and economic policy recommendations to address priority areas of trade, several of which may have important implications for companies and their supply chains.

However, the full impacts of the tariff plan and global trade policy remain to be seen. While some policy changes have already taken effect, U.S. trade policy and the economic landscape will continue to see developments. Businesses must be prepared to act quickly and align business strategies as policies update and evolve.

Our global trade and supply chain management experts are monitoring developments to offer tailored guidance and scenario planning for organizations across industries. Let us help you stay informed and navigate the evolving trade, policy, and economic landscape. Track the latest and stay ahead with insights, alerts, webinars, and guidance from our experts.

Strategies for navigating the changing economic landscape

It’s difficult — but entirely possible — to manage the complexities of changing tariffs and trade policies while optimizing your strategy. You can count on us to help you assess, reduce, and recover tariff impacts.

Assess the impact of tariffs on your business

We’ll help you determine tariff impacts on finished goods, components, and raw materials. From exposure modeling and contract review to validating bills of materials* and Harmonized Tariff Schedules*, get a clear view of your financial situation.

*For these activities, we would work in partnership with your law firm, customs broker, or preferred service provider. We can also refer you to other relationships within our broad professional network, as requested.

Determine ways to reduce tariff exposure

Using a data-driven approach to tariff mitigation, we’ll develop strategies for reducing your exposure. We’ll work with you to build a detailed plan that includes an analysis of the potential benefits and risks involved with various impact reduction methods like transfer pricing, reshoring, and alternative supplier sourcing. Once we’ve determined an optimal strategy, we’ll help you execute it.

Optimize transfer pricing strategy

Review and reevaluate transfer pricing policies to help manage the impact of tariffs on intercompany cross-border transactions. We can identify which entity should bear the cost of the tariffs in the existing structure, analyze opportunities to reduce the price of goods in import transactions, or advise on supply chain realignment to move more functions, assets, and risks into the United States.

Uncover opportunities for tariff recovery

We can help you recover the financial burden of imposed tariffs. Our focus will be on recovering actual tariff costs via customers and other means, as well as additional cost reduction ideas, like performing an end-to-end analysis of your supply chain for inefficiencies and vulnerabilities and streamlining, standardizing, and automating your operations.

Trade insights: Key import data and historical milestones

Our team is tracking notable trade actions and tariff updates based on announcements and actions from the administration. Below is a simplified high-level summary. If you have questions or would like to discuss specific details of how your business could be impacted, please reach out to our experts.

Significant U.S. trade milestones and import duty rates

Country of origin or sector	Tariff percentage (generally ad valorem; compounding across tariff classes may or may not occur)	Effective date
Mexico	Non-USMCA-compliant goods: 25% USMCA-compliant goods continue duty-free status	March 7, 2025
Canada	Non-USMCA-compliant goods: 25% Potash and energy-related goods: 10% USMCA-compliant goods continue duty-free status	March 7, 2025
Steel and aluminum products and identified derivatives	25% (opportunity to reduce if steel and aluminum are melted, poured, and/or cast in the U.S.)	March 12, 2025
China	Section 301: 7.5% to 25% (depending on HTS code across published lists)	Carried over from 2018
	IEEPA: 10%	February 4, 2025
	IEEPA: 10% (additional)	March 4, 2025
	Reciprocal: 125%	April 10, 2025
	De minimis shipments under $800 (postal shipments): 120% of declared value or $100 per item 120% of declared value or $200 per item	May 2, 2025 June 1, 2025
Passenger vehicles and light trucks	Non-USMCA-compliant: 25% USMCA-compliant: 25% on non-U.S. content	April 3, 2025
Automotive parts	Broad range of HTS codes published in the April 3, 2025 Federal Register: 25% For USMCA-compliant goods: It is possible that U.S. content will not be subjected to tariffs.	May 3, 2025
Liberation Day reciprocal tariff	10%	April 10, 2025
Liberation Day reciprocal tariff	See Annex I (with the exception of Canada, Mexico, and China)	April 9, 2025 (currently on pause)
Countries importing Venezuelan oil	25% (application determined by the Secretary of Commerce)	April 2, 2025
Reciprocal tariff exclusions as listed in U.S. Customs and Border Protection CSMS # 64724565 (dated April 11, 2025)	HTS codes for 20 electronics-related goods and machinery products: 0%	Retroactive to April 5, 2025

The data displayed in this table was published on April 17, 2025. While our team strives to keep this information current, due to the evolving nature of tariff regulations, updates may occur.

Trade and tariff policy updates

April 04, 2025

Special Commentary: Tariff announcement roils markets

The Trump administration's recent announcement of tariffs on all imports has led to a surge in market volatility and growing economic uncertainty.

Blog / 8 min read

April 03, 2025

United States to enforce reciprocal tariffs starting April 5, 2025

Starting April 5, 2025, a 10% blanket duty will apply to all imports into the United States. From April 9, 2025, country-specific reciprocal tariffs will replace the 10% blanket duty. Learn more.

Blog / 5 min read

Close-up photo of a metal car frame in a factory

March 28, 2025

U.S. tariffs hit automobiles and parts

There have been several new updates regarding U.S. tariffs on imported goods, particularly automobile parts. The effects of these changes have hit the automotive industry and will be effective on April 3, 2025. Learn how.

Blog / 3 min read

Perspective on global trade policy insights

April 10, 2025

Navigating tariff changes: A guide to protecting margins

In CFO, Partner Lou Longo discusses how CFOs can raise their games in the areas of cash flow, supply chain, and currency risk.

Article / 5 min read

April 15, 2025

Tariff review: Recent actions and the road ahead

Keeping track of tariff announcements, deferrals, and modifications has been challenging for business owners. In this article, our global trade and supply chain management experts review all tariff actions so far and discuss what could be on the road ahead.

Article / 12 min read

Business professionals holding documents and discussing with one another while sitting down

March 11, 2025

Untangling tariff impact: Actions to navigate evolving U.S. tariff and trade policies

With new tariffs underway and trade policies evolving, companies are anticipating significant changes in 2025. Strategic planning is crucial to minimize risks and capitalize on opportunities. These considerations will help you navigate the emerging landscape.

Article / 5 min read

View of the U.S. capitol building with the sun shining on it.

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Our global trade and supply chain management experts

Our experts are ready to help you navigate disruptions to supply chains, international trade, and economic policy. We’ll continue to monitor and analyze policy developments emerging from Washington D.C. to help your company strategically align its strategies for business continuity and growth. Learn more about our experts.