#TariffsPause

#TariffsPause: Latest Status of U.S. Tariffs as of April 26, 2025

On April 9, the U.S. government announced a 90-day suspension of the new 'reciprocal' tariffs implemented on April 2, excluding China. This means that until July 9, most countries will apply a minimum 10% tariff on goods exported to the U.S., rather than the originally higher rates (e.g., 46% for Vietnam, 20% for the EU). Certain product categories, such as pharmaceuticals and microchips, are exceptions, but most goods are now uniformly subject to a 10% tariff.

China is not included in the suspension: due to Beijing's countermeasures, U.S. tariffs on Chinese goods increased from 104% to 125%. Meanwhile, the original tariffs on products like steel, aluminum, and automobiles remain at 25%, and the U.S. has canceled free trade agreements with Canada, Mexico, Australia, and South Korea.

Markets reacted positively to this news, but economists warn that this suspension only postpones the negative impacts facing the global economy, and uncertainties remain. Even during the 'suspension' period, the average tariff on U.S. imports remains as high as approximately 24%, hitting a historic high.

TariffsPause is a temporary relief for exporters, but a fundamental shift in U.S. trade policy has already occurred.