Clyde & Co’s Tariff Tracker: April edition

Clyde & Co’s Tariff Tracker provides an overview of all trade restrictions imposed or announced by the US and against the US. The tracker will be updated by our offices across the globe as new measures are introduced.

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The April updates on the tariff tracker including updates in US tariffs, retaliatory tariffs and any after-effects, are set out below.

3 APRIL  2025

What has been announced?

US tariffs

• On 2 April 2025, the US announced a new set of tariffs covering 185 countries. The US’s new tariff scheme, which will come into effect over the next week, includes a universal / baseline 10 per cent tariff on all countries.
• In addition, some countries will also receive a higher tariff on their goods entering the US, as a result of being labelled by the US as the ‘worst offenders’. These countries include, for example, China and Vietnam.
• The 10 percent base line tariff does not however apply to Canada and Mexico, given the 25 percent tariff that has already been imposed on goods originating from both countries.
• We have set out below some (but not all) the countries facing the 10 percent baseline tariff rate:
  • UK
  • Singapore
  • Brazil
  • Australia
  • New Zealand
  • Turkey
  • Colombia
  • Argentina
  • El Salvador
  • UAE
  • Saudi Arabia
• We have set out below some (but not all) the countries subject to higher tariff rates:
  • China - 34% (in addition to the pre-existing 20% rate)
  • Vietnam - 46%
  • Taiwan - 32%
  • Japan - 24%
  • India - 26%
  • European Union - 20%
  • Switzerland - 31%
  • Liechtenstein - 37%
  • Serbia - 37%

When will the tariffs come into effect?

• The baseline tariff of 10 percent will come into effect 5 April 2025.
• Higher tariff rate for the ‘worst offenders’ will come into effect 9 April 2025.

Are any goods exempted?

The White House has indicated that a number of goods will be exempted, including steel and aluminum (which already have separate tariffs in place), copper, lumber, pharmaceuticals, semiconductors and gold bullion.

It is also reported that energy (gas, oil and refined products) and minerals (not available within the US) will be exempted.

However, tariffs on energy will need to be closely monitored given the Administration’s motivation for these tariffs is reciprocity and many of the US trading partners, such as China, have tariffed US energy imports (e.g. see our 6 February update).

See our Tariff Tracker