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zaid alim
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Here are the latest updates on Trump's trade tariff policies: Recent Developments - The US has suspended higher ad valorem rates on Chinese imports for 90 days, effective May 14, 2025, reducing the additional duty rate from 34% to 10%. - The de minimis threshold for low-value imports has been adjusted, with the ad valorem rate dropping from 120% to 54%, and the current $100 per postal item duty remaining in place. - A trade deal with the United Kingdom has been announced, aiming to expand US access to UK markets and reinforce national security, with a 10% reciprocal tariff remaining in effect. Key Tariff Updates - *Tariffs on China:* - Total duty rate on Chinese imports increased to 104% on April 9, 2025. - 90-day pause on further tariff escalations for certain Chinese imports. - *Tariffs on Other Countries:* - Universal 10% tariff on all imports, effective April 5, 2025. - Country-specific tariffs apply to select nations, including those listed in Annex I. - *USMCA and NAFTA:* - Goods qualifying under USMCA remain eligible for duty-free treatment. - Non-originating goods from Canada and Mexico are subject to 25% tariffs. Upcoming Dates - *May 2:* De minimis exemption for China and Hong Kong ends. - *May 29:* Secretary of Commerce to release certification and application process for auto part tariff offset program. - *June 1:* Duty rates on postal items from China to increase if not already adjusted ¹.
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