There are no reciprocal import tariffs in effect, but they may be on their way. A Feb. 13 presidential memorandum directs the Office of the U.S. Trade Representative and other federal agencies to initiate, after April 1, “all necessary actions to investigate the harm to the United States from any non-reciprocal trade arrangements adopted by any trading partners.” Following those investigations the agencies are to submit to the president a report detailing proposed remedies in pursuit of reciprocal trade relations with each trading partner. (However, USTR notes that it may take related action before this process is completed “as warranted.”) Read more about the memorandum here.
USTR is accepting through March 11 comments on unfair foreign trade practices that could be met with tariffs or other remedial actions in pursuit of reciprocal trade relations. Read more about the request for comments here.
ST&R offers a three-pronged approach to avoiding, mitigating, and/or recovering these and other tariffs. For more information on which of these strategies might be most effective for your business, please contact ST&R.
Official Documents