Perspectives géopolitiques
Navigating Trade Wars: Perspectives from the UK
11 mars 2025
Clyde & Co’s Tariff Tracker: March edition
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Bulletin 7 mars 2025 7 mars 2025
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Global
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Perspectives géopolitiques
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Commerce et biens de consommation
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 March updates on the tariff tracker including updates in US tariffs, retaliatory tariffs and any after-effects, are set out below.
27 MARCH 2025
What has been announced?
US tariffs
- On 27 March 2025, the US announced a 25 percent tariff on the import of all ‘foreign-made’ cars and auto parts.
When will the tariffs come into effect
- The US global tariff on cars and auto parts not made in the US, is set to take effect from 2 April 2025.
17 MARCH 2025
What’s been announced?
US tariffs
- On Wednesday 12 March 2025, the US announced a tariff of 25 percent on all steel and aluminium imported in the US.
- Whilst there has been much discussion as to whether certain countries and/or industries will be exempt, the US has today [17 March] confirmed that there will be “no exceptions” to the US tariffs on steel and aluminium.
Retaliatory tariffs
- Canada has vowed to retaliate by issuing levies on approximately USD 21 billion worth of US imports, including metals, computer and sporting goods.
- The European Union (EU) has also responded with its first tariff. The EU has announced a potential tariff regime on up to USD 28 billion worth of US goods, including bourbon, boats and motorcycles.
When will the tariffs come into effect?
- The US global tariff on steel and aluminium is set to take effect from 2 April 2025.
- As of yet, it is not clear when any programme of retaliatory tariffs will be imposed on US products by Canada, the EU or other countries or states. This will likely depend on whether the US do, in fact, impose the tariff on 2 April 2025, and the extent to which the US maintains its position that no countries or industries will be exempt from its global tariff on steel and aluminium.
7 MARCH 2025
What’s been announced?
US tariffs
- Following the introduction of US tariffs on Canadian and Mexican imports which came into force on 4 March 2025, the US has now announced that it has expanded the range of goods which are currently exempt.
- The suspension applies to all goods which are compliant to the US-Mexico-Canada agreement (USMCA). This means that imports such as automotive goods and potash – a key ingredient for fertiliser – are currently exempt from the impact of 25 percent tariff until 2 April 2025.
Retaliatory tariffs
- In response, Canada has announced a delay to its “planned second wave” of retaliatory tariffs on US products until 2 April 2025.
5 MARCH 2025
What’s been announced?
US tariffs
- The US has announced that its programme of tariffs on Canada and Mexico (which was suspended for one month from 4 February to allow for negotiations between those countries) will now come into force.
- An order has also been signed to double US tariffs on China from 10 to 20 percent, with the US citing China’s failure to take adequate steps to address the flow of fentanyl into the US as the reason for this hike.
Retaliatory tariffs
- China has announced additional tariffs, with an increased levy of 10 to 15 percent on a range of US agricultural and food products, in response to the increase in US tariffs on Chinese imports. An additional 15 percent tariff will be imposed on US chicken, corn and wheat; and an extra 10 percent tariff on such products as US soya beans, pork, beef, fruits and dairy imports.
- China also added 10 US companies to its so-called ‘unreliable entity list’ and a further 15 US entities to an export control list, effective immediately.
- Canada has responded to the announcement on US tariffs by imposing an immediate 25 percent tariff on US imports. As previously indicated, Canada has targeted such US imports as beer, wine, bourbon, dairy products, and home appliances. Canada has also indicated that if US tariffs on Canadian products remain in place after 21 days, then an additional range of US products will be subject to 25 percent tariffs.
When will the tariffs come into effect?
- US tariffs on Canada and Mexico, and the increased tariffs on Chinese imports, all came into effect at 12:01am on Tuesday 4 March 2025.
- Canadian tariffs on US imports also became effective immediately (i.e., on 4 March 2025).
- The 10 to 15 percent increase in Chinese tariffs on US products is set to come into force from 10 March 2025.
Fin