Perspective on global trade policy

Tariffs, global trade, & economic policy updates to track

The America First Trade Policy memorandum issued on Jan. 20, 2025 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 remains to be seen. While some policy changes have already taken effect, U.S. trade policy and the economic landscape will continue to see developments.

Global trade milestones

The below timeline tracks 2025 notable trade actions based on announcements and actions from the administration.

CountriesDateMilestone
US, China2/4/2510% US ad valorem tariff on China implemented
US, China3/4/25Additional 10% tariff on China (total 20% ad valorem) implemented
US, Canada, Mexico3/4/2525% US ad valorem tariffs on Mexican goods except potash at 10%; 25% ad valorem tariffs on Canadian goods except energy-related goods and potash at 10% ad valorem under the International Emergency Economic Powers Act (IEEPA)
US, Canada3/4/2525% Canadian ad valorem tariff on C$30 billion on US goods (primarily agriculture, alcohol, motorcycles)
US, Canada, Mexico3/7/25Exemption for Mexican and Canadian IEEPA tariffs for goods entering under special chapters 98-99 provisions for USMCA begins. Compliant certification must be declared at entry
US, Global3/12/2525% US ad valorem tariffs on steel and aluminum (HTS chapters 73 and 76) and derivative products begin; steel and aluminum product outside of chapters 73 and 76 will be covered in the April 1, 2025 US Dept. of Commerce trade report
US3/14/25Current US federal government continuing budget resolution expires
US, EU3/31/25Suspension period for steel & aluminum tariffs on Europe expire (tariffs fully reinstated on April 1)
US4/1/25US inter-agency review and recommendations on US trade and tariff policy (USTR, Treasury, Commerce & Homeland Security)
US, Global4/2/25Potential new reciprocal tariff and non-tariff US country- and sector-based tariffs including auto, pharma, semiconductors, copper announcements expected

With new tariffs underway and trade policies evolving, you need to be ready to act quickly and align your business strategies with policy updates. 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.


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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.