The Administration has announced a 90-day pause on the recently escalating tariffs with China.  During the pause, the US will reduce the 125% reciprocal tariff rate down to 10% which is currently applicable to all other countries.  The 20% IEEPA drug/border tariff will remain during the pause.

Part of the agreement includes China removing their retaliatory tariffs and restrictions taken since April 2.

These actions are expected to be in effect by May 14, 2025, and will last for 90 days.  The US and China will work to continue trade talks to address issues.

In summary, tariffs on imported Chinese goods will be applied as follows:

- Most Favored Nation rate (MFN)

- Section 301 duty rate (7.5%-100% depending on HTS)

- IEEPA Drug/Border (20%)

- IEEPA Reciprocal (at 10%), OR Section 232 (25% steel/aluminum/autos/auto parts/derivatives) – whichever is applicable by law

Check out the White House announcement, joint statement and fact sheet at the links below.

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CBP has announced in CSMS 64981848 that they will be presenting a monthly series of four ACE Reports informational webinars starting on May 21.  Below are the schedule and topics for the webinars:

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1. Topic: Schedule and Email Recurring Reports

Webinar Date/Time: Wednesday, May 21, 2025, 1:00 p.m. ET

Virtual Office Hours Date/Time: Thursday, May 22, 2025, 1:00 p.m. ET

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2. Topic: Modifying Reports

Webinar Date/Time: Tuesday, June 17, 2025, 1:00 p.m. ET

Virtual Office Hours Date/Time: Wednesday, June 18, 2025, 1:00 p.m. ET

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3. Topic: Adding Dynamic Dates

Webinar Date/Time: Wednesday, July 30, 2025, 1:00 p.m. ET

Virtual Office Hours Date/Time: Thursday, July 31, 2025, 1:00 p.m. ET

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4. Topic: Webinar Topic Coming Soon!

Webinar Date/Time: Wednesday, August 13, 2025, 1:00 p.m. ET

Virtual Office Hours Date/Time: Thursday, August 14, 2025, 1:00 p.m. ET

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Information on how to join the webinars will be provided in an upcoming CSMS message. Check out the CSMS message link below for more details.

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The President and the UK Prime Minister announced a trade deal, providing American companies access to the UK markets.

The trade deal will expand US market access in the UK, creating a $5 billion opportunity for new exports for US farmers, ranchers, and producers.

Additionally, the deal will create preferential access to UK aerospace components, and 10% reciprocal tariff rate on the first 100,000 UK origin vehicles per year (with the rate increasing to 25% after that threshold).

The White House Fact Sheet also states that “The United States…will negotiate an alternative arrangement to the Section 232 tariffs on steel and aluminum.”

No dates have been provided on when these actions will take effect. Click below to check out the White House Fact Sheet:

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