The TecEx Tariff Tracker

Reuters reports that retailers like Pandora and Birkenstock are considering offsetting tariff costs by increasing prices globally instead of only raising US prices. The largest retailer in the US, Walmart, plans to increase prices and reduce orders for certain goods. Tariffs are starting to hit consumers and businesses – Allianz reports that 42% of surveyed exporters expect a decline in revenue, largely due to tariffs.

Meanwhile, Vietnam confirms continued negotiations with the US, Japan continues pushing for the elimination of America’s unilateral tariffs, and Thailand proposes measures to address its trade surplus with the US, including better market access for US goods, policies against origin-washing or duty circumvention through transshipments, and investment in the US.

In response to global tariff chaos, the EU and UK announce monumental agreements at a joint press conference after the EU-UK summit.

Portuguese President António Costa explains, “On trade, we are united in our commitment to economic stability. We both believe in free trade – fair, sustainable and open – as the engine of prosperity for our citizens and for the global economy.”

Prime Minister Starmer confirms that the agreements give the UK “unprecedented access to the EU market – the best of any country outside the EU or EFTA.”

In a joint trade statement, APEC members show solidarity amongst trade uncertainty, saying, “We remain committed to APEC as the premier forum for regional economic cooperation and emphasize the importance of its role in bringing us together to address the economic challenges facing our region and create a more resilient and prosperous Asia-Pacific region.”

Meanwhile, Southeast Asian countries are under immense pressure from transshipments, the Sino-US trade deal, and the risk of reciprocal tariffs.

Bloomberg reports that Canada’s significant exemptions for its retaliatory tariffs have resulted in a “nearly zero” increase in tariff rates on US goods. Automotive imports, as well as goods necessary for Canadian manufacturing, health care, public safety, and national security, are largely exempt.

Trump claims that India has “offered us a deal where basically they are willing to literally charge us no tariff.” India’s foreign minister confirms the countries have been talking but adds, “Nothing is decided until everything is,” and that the deal must be mutually beneficial.

The US and China implement the agreed actions for de-escalation. China lowers retaliatory tariffs to 10% and suspends some non-tariff measures like export controls on dual-use goods. The US lowers tariffs to 30% but retains earlier duties related to national security concerns and the fentanyl crisis. A mechanism is being established to facilitate the ongoing discussions.

As part of the temporary Sino-US trade agreement, the US is lowering de minimis tariffs to 54% for low-value Chinese imports. The flat fee will also be reduced from $200 to $100.

This is a relief for many US importers. According to Reuters, 90% of tax-free packages enter the US using de minimis, with 60% coming from China.

Meanwhile, India may retaliate against Trump’s steel and aluminum tariffs.

The US and China have agreed to suspend tariffs for 90 days starting May 14. During this period, US tariffs on Chinese goods will lower from 145% to 30%, while Chinese tariffs on US goods will lower from 125% to 10%.

Trump shares a vague update on Truth Social about the talks with China, which started on Saturday, May 10.

The White House shares statements from Scott Bessent and Jamieson Greer announcing a “China Trade Deal in Geneva.”

In his statement, US Trade Representative Ambassador Greer outlines the purpose of the negotiations, “Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”

India and Japan are reportedly next in line for US trade deals. India suggests a tariff reduction on US imports from 13% to 4% and preferential treatment for 90% of US imports in return for preferential market access for a range of exports.

Trump shares a post stating, “80% Tariff on China seems right! Up to Scott B.” This would be a drastic decrease from the current 145% tariffs, which have caused Chinese exports to the US to drop by 21% (and exports to ASEAN countries to increase by the same amount).

President Trump announces an incoming US-UK trade deal on Truth Social. He implies this is the first of many, with another post reading, “The Golden Age of America is coming!”

The White House later releases a statement outlining the general priorities for the trade agreement, which still needs to be negotiated and formalized.

US tariffs on UK goods remain at 10%, while the UK will likely reduce tariffs on US goods from 5.1% to 1.8%.

While trade investigations into semiconductors continue and the threat of 25% tariffs loom, the Trump administration announces intentions to rescind and replace the Biden-era “AI Diffusion Rule,” which aimed to heavily restrict the global movement of US-made GPUs.

US officials Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, plan to meet with Chinese officials in Switzerland this week for potential de-escalations.

The US officials will also likely start trade talks with the Swiss president.

Canadian Prime Minister Carney meets Trump for the first time since winning Canada’s elections. After trade talks, Trump says that the US gets along well with Canada and Mexico, “They just got to pay a little more money, you know?”

Meanwhile, the EU waits to present trade proposals to the US next week, armed with retaliatory tariffs on €100 billion of US goods if negotiations fall short of its expectations. China’s President Xi Jinping calls on the EU to “uphold multilateralism, defend fairness and justice, [and] oppose unilateral bullying,” bringing attention to the future of EU-China trade ties.

In the face of tariff uncertainty, India and the UK have signed a trade deal to boost their economic alliance. British Prime Minister Keir Starmer explains, “We are now in a new era for trade and the economy,” which requires stronger alliances and fewer trade barriers.

Similarly, Brazil is seeking closer ties with Southeast Asian (ASEAN) countries like Singapore and Vietnam by promoting itself as a neutral economic partner in the face of US-China trade tensions.

Conversely, Indonesia offers trade concessions to the US by reducing laws for procuring goods with locally-produced content from 40% to 25%, ultimately meaning it can buy more US goods.

Tariffs also take a toll on toys as Mattel warns of higher prices – nearly 80% of all toys sold in America are made in China.

President Trump suggests that trade deals with some countries could be finalized as soon as this week. This could include countries with priority negotiations like India, Japan, and South Korea.

In a post on Truth Social, Trump orders a 100% tariff to be implemented on movies produced outside of America.

Beijing confirms it is considering talks with the US after receiving requests from senior US officials. However, it remains ready to protect itself and emphasizes that negotiations must be based on mutual respect, and America must remove existing tariffs, as coercive tactics will not be effective.

US de minimis exemptions for low-value shipments from China and Hong Kong officially end, causing some retailers to stop selling in the US entirely. Companies like Adidas warn US customers of higher prices due to tariffs.

Shipments of eCommerce goods from China to the US have reportedly dropped by 65% since exporters started shifting towards other markets ahead of Trump’s tariffs and de minimis rule changes.

Affected businesses can offset tariff costs by increasing consumer prices, and Shein has done just that. The eCommerce giant’s prices for American consumers have increased by up to 377%.

The US has reportedly approached China for tariff talks, but none are known to have happened yet.

China has reportedly created a list of US goods exempt from the 125% tariffs, and had previously exempted goods like microchips and pharmaceuticals.

At a rally for 100 days in office, Trump shared that a trade deal with China may be within reach.

Trump vaguely warns pharmaceutical companies of an incoming tariff “wall,” suggesting impending import duties to boost domestic pharmaceutical production.

Scott Bessent believes “it’s up to China to de-escalate, because they sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable.” He also mentions India as a key trading partner and says he “would guess that India would be one of the first trade deals we would sign.”

Trump signs an Executive Order to prevent the “stacking” or cumulation of multiple tariffs on individual auto-related imports, simplifying tariff applications and preventing unnecessarily high duties.

Meanwhile, Canadian Prime Minister Mark Carney, whose Liberal Party has just won the recent election, shares his plan for Canada to diversify its economic partnerships to mitigate the impact of Trump’s tariffs and reduce Canada’s reliance on the US.

China’s Ministry of Foreign Affairs Spokesperson shares a bold video on X about the “global tariff storm” created by the US, emphasizing that “China won’t kneel down, because we know standing up for ourselves keeps the possibility of cooperation alive.”

Never Kneel Down! pic.twitter.com/z8FU3rMSBA

— CHINA MFA Spokesperson 中国外交部发言人 (@MFA_China) April 29, 2025

A leaked draft document for a “new strategic partnership” between the EU and UK declares a commitment to “free and open trade” in response to uncertain relations with America.

Likely worried about economic fallout, China is reportedly calling for companies to submit suggestions for US goods that should be exempt from the 125% tariffs.

Twelve Democratic US states are suing the Trump administration for “reckless” and “illegal” tariffs. 

The lawsuit states, “By claiming the authority to impose immense and ever-changing tariffs on whatever goods entering the United States he chooses, for whatever reason he finds convenient to declare an emergency, the president has upended the constitutional order and brought chaos to the American economy.”

A White House spokesperson reinforced that the Trump administration “remains committed to addressing this national emergency that’s decimating America’s industries and leaving our workers behind with every tool at our disposal, from tariffs to negotiations.”

US-China talks continue without the two seeing eye-to-eye. 

While the US reportedly wants to see China crack down on chemical manufacturers and sellers contributing to the US fentanyl crisis, Chinese embassy spokesperson Liu Pengyu has stated, “If [the US] truly wants to address the fentanyl problem, it needs to revoke the unjustified tariffs, engage in equal consultation with China, and seek mutually beneficial cooperation.”

Bessent tells reporters that the US and China need to mutually de-escalate tariffs before they can begin rebalancing their trade relationship in a way that shifts China towards consumption and the US towards manufacturing.

Ahead of negotiations with the US, Vietnam’s trade ministry has reportedly issued a directive to prevent the transshipment of Chinese goods to the US. Stricter procedures are now required for goods to receive “Made in Vietnam” labels.

Scott Bessent, US Secretary of the Treasury, expects a de-escalation of US-China tensions as he believes the current situation is unsustainable. Trump states that tariffs on Chinese goods will “come down substantially” but warns that they “won’t be zero.”

Meanwhile, JD Vance calls for closer ties between the US and India, stating, “We want to work together more, and we want your nation to buy more of our military equipment.”

China’s Commerce Ministry has threatened to “take countermeasures in a resolute and reciprocal manner,” if countries strike deals with the US at China’s expense.

ASEAN countries are caught in the crossfire of two of their largest trading partners.

JD Vance says there’s a “good chance” of a UK-US trade deal thanks to this trade relationship being more reciprocal than that with the EU.

Meanwhile, South Korea strives to delay reciprocal tariffs as it negotiates with the US.

Trump clarifies no country is “off the hook” from tariffs and that electronics and semiconductors are being examined under Section 232 Investigations to be placed in a different “tariff bucket.” Pharmaceuticals are also under investigation. 

Howard Lutnick explains that “special focus-type tariffs” will be applied to these goods in the next two months.

China retaliates and suspends exports of vital goods like magnets and critical minerals, which will likely impact auto components, aerospace manufacturers, semiconductor makers, and military contractors.

Trump temporarily suspends some tariffs on electronics like smartphones, computers, and semiconductors. China is exempt from 125% tariffs on electronics, but it still faces rates of 20%.

China raises tariffs on US goods to 125%, effective April 12. 

POLITICO reports that the finance ministry says, “Even if the US continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” continuing, “If the United States continues to play the tariff numbers game, China will ignore it.”

Meanwhile, Trump threatens Mexico on Truth Social with additional tariffs and sanctions if it fails to meet its obligations under a 1944 water treaty.

The White House clarifies that the 125% tariffs are in addition to the existing 20% tariffs on Chinese goods, meaning imports from China will face tariffs of 145%.

US country-specific reciprocal tariffs are paused for 90 days. 

China responds to 104% tariffs with 84% tariffs on US goods, set to take effect on April 10. Trump announces 125% retaliatory tariffs.

China emphasizes it will “fight to the end,” and its commerce ministry describes Trump’s latest threat as a mistake “exposing the American side’s blackmailing nature.”

Trump says he has no plan to pause his sweeping tariffs. He threatens China on Truth Social with an additional 50% tariff if it implements retaliatory tariffs, which would result in 104% tariffs on Chinese imports.

Meanwhile, von der Leyen expresses the EU’s willingness to implement “zero-for-zero” tariffs for certain goods and readiness to enforce countermeasures if necessary.

Europe is ready to negotiate with the US.

We have offered zero-for-zero tariffs for industrial goods.

Because we’re always ready for a good deal.

But we’re also prepared to respond with countermeasures.

And protect ourselves against indirect effects through trade diversion. pic.twitter.com/hpZ77TXH4B

— Ursula von der Leyen (@vonderleyen) April 7, 2025

10% blanket tariffs take effect on most imports to the US.

China announces 34% tariffs on all US goods with no exemptions, effective April 10. It also places new export controls on seven rare elements needed for all kinds of tech goods and announces investigations into US medical imaging equipment.

Foreign ministry spokesperson Guo Jiakun explains the reciprocal tariff on China “gravely violates WTO rules, and undermines the rules-based multilateral trading system. China firmly rejects this and will do what is necessary to defend our legitimate rights and interests.”

US tariffs on imported cars take effect.

Canada’s Prime Minister Mark Carney introduces 25% tariffs on American cars. Mexico’s President Claudia Sheinbaum plans to increase domestic production of various goods while reducing dependence on the US for natural gas. 

​President Trump states he is open to negotiating and reducing tariffs if trading partners present “phenomenal” offers, emphasizing that companies could be exempt from tariffs if they manufacture within the US.

Trump invokes IEEPA national emergency powers to implement reciprocal tariffs on the world. 10% tariffs will be unleashed on most imports on April 5, while the countries with the largest trade deficits with the US will face individualized tariffs from April 9. 

Currently, the only tech exempt from tariffs is semiconductors.

With high tariff rates for South Asian countries, the future of many alternative manufacturing hubs to China is uncertain. The tariffs include 46% for Vietnam, 49% for Cambodia, 36% for Thailand, 32% for Taiwan, and 26% for India.

Trump states, “[America’s] markets are gonna boom, the stock is gonna boom, the country is gonna boom.” Meanwhile, CNBC reports that stocks have already fallen for tech giants like Apple, Nvidia, Amazon, Meta, and Microsoft. 

Trump signs an Executive Order to end duty-free de minimis exemptions for China and Hong Kong, effective May 2.Trump signs an Executive Order to end duty-free de minimis exemptions for China and Hong Kong, effective May 2.

Nintendo reportedly begins diversifying its supply chain to mitigate tariffs on Chinese imports to America, moving part of its production from China to Cambodia and Vietnam – a perfect example of preemptive risk mitigation through supply chain diversification.

Trump threatens secondary tariffs on countries that purchase Russian oil if Russia does not accept a ceasefire deal with Ukraine. Key buyers of Russian oil include China and India.

America is reportedly suspending its contributions to the WTO in line with the Trump administration’s America First Trade Policy.

Meanwhile, the likelihood of the EU utilizing its Anti-Coercion Instrument (ACI) to retaliate with tariffs or other trade restrictions is growing.

President Trump threatens the EU and Canada in a social media post in the middle of the night, discouraging them from closing ranks to retaliate against the US. 

Trump confirms 25% tariffs on imported cars and auto parts, scheduled to be implemented on April 3. According to the New York Times, almost 50% of cars purchased in America are imported, mainly from Mexico, Japan, Canada, South Korea, Germany, and the UK.

European automakers reportedly lose $14 billion in value. 

Canadian Prime Minister Mark Carney believes “The old relationship we had with the United States based on deepening integration of our economies and tight security and military cooperation is over.” Japanese Prime Minister Shigeru Ishiba questions the decision, stating “[Japan] makes the largest amount of investment to the US, so we wonder if it makes sense for [Washington] to apply uniform tariffs to all countries.”

President Trump announces a 25% secondary tariff on all imports from any country that purchases oil or gas from Venezuela, effective April 2. This is likely to affect China, Spain, and India.  

The EU announces that its retaliatory tariffs will be delayed until mid-April .   

In response to the EU’s 50% tariff threat on American bourbon, Trump threatens a 200% tariff on European alcoholic products in a post on Truth Social.

Universal 25% tariffs on steel and aluminum imports into the US take effect. 

Canada announces plans to retaliate from March 13 with 25% tariffs on $20.7 billion of US imports, which will expand to $155 million of goods if the US maintains its tariffs. This covers goods like orange juice and peanut butter, as well as steel and aluminum, tools, computers, sporting goods, and cast iron.

The European Union announces retaliatory tariffs on $28 billion of US goods scheduled for April 1. Once again, it plans to impose tariffs on Harley-Davidson motorbikes, Levi jeans, and Jack Daniels bourbon – among other consumer and tech goods.

Canada announces 25% tariffs on $30 million of US imports. This covers goods like orange juice, peanut butter, appliances, apparel, motorcycles, and paper products.

Ontario suspends electricity surcharge and Trump withdraws steel and aluminum threat.

China’s additional retaliatory tariffs on key American farm products take effect.

President Trump threatens to increase tariffs on Canadian steel and aluminum to 50%. 

Ontario Premier Doug Ford responds with a 25% surcharge on electricity exports to Michigan, Minnesota, and New York.

Trump threatens reciprocal tariffs up to 250% tariffs on Canadian dairy and 50% for Canadian lumber.

Imports from Canada and Mexico that meet the rules of origin requirements under the USMCA are exempt from the March 4 tariffs until April 2. The tariff on non-USMCA potash lowers to 10%.   

US automakers receive a one-month exemption from new tariffs on Canadian and Mexican imports.

China’s embassy posts on X “If war is what the US wants, be it a tariff war, a trade war or any other type of war, we’re ready to fight till the end,” quoting a recent government statement.

If war is what the U.S. wants, be it a tariff war, a trade war or any other type of war, we’re ready to fight till the end. https://t.co/crPhO02fFE

— Chinese Embassy in US (@ChineseEmbinUS) March 5, 2025

25% tariffs on most goods from Canada (10% on energy) and 25% on Mexican imports take effect. The US expands the number of American companies subject to export controls.   

Canada announces incoming retaliatory tariffs on over $100 billion of American goods over 21 days, and places an immediate 25% tariff on over $20 billion worth of US products. 

China announces additional retaliatory tariffs of 10% and 15% on various US food items, effective March 10. It also adds 10 US companies to its Unreliable Entities List, and imposes export controls on 15 US companies. 

Mexico threatens to impose unspecified tariffs on US goods if America doesn’t back down.

25% tariffs on imports from Mexico and Canada come into effect, and tariffs on Chinese goods rise by an additional 10% – now sitting at 20% on all imports.  

President Trump posts on Truth Social that tariffs on imported agricultural products will commence on April 2, 2025.

Trump signs an Executive Order instructing the Commerce Department to consider tariffs on lumber and timber.

Trump announces that tariffs on goods from China will increase by 10% on March 4, 2025.   

Trump claims the EU was “formed to screw the United States,” and announces plans to implement 25% tariffs on unspecified EU imports.

The White House announces measures to address the threat to national security from copper imports with a Section 232 investigation. Tariffs on copper will likely impact semiconductor manufacturing in the US, as key components of GPUs often require copper.

Trump directs the USTR to initiate a Section 301 investigation into Digital Service Taxes (DSTs) levied by several countries.   

The administration announces that the tariff rates on semiconductors and pharmaceuticals would be around 25% but will “go substantially higher over a course of a year.”

The US threatens to impose tariffs on all auto imports beginning April 2, with a possible 25% rate.   

The White House unveils a “Fair and Reciprocal Plan” on Trade, stating the US will increase its tariffs to match the rates other countries charge on American imports. 

Recommendations are due by April 1, and implementation is possible from April 2.

Plans to impose 25% tariffs on auto imports on April 2 signal a potential disruption to the global automotive industry.   

President Trump announces plans to introduce universal tariffs on steel and aluminum from March 12, which would eliminate exemptions from the 2018 tariffs and raise the tariff on aluminum to 25%. 

China’s 15% tariffs on coal and liquefied natural gas products and a 10% levy on crude oil, agricultural machinery, and large-engine cars imported from the US take effect. 

Reports indicate that the BIS and other agencies had implemented additional levels of review for license applications for tech goods under export controls, leading to delays in the licensing process.

10% tariffs are applied on all Chinese imports, largely affecting tech goods like cell phones, computers, and electric and industrial equipment.

China immediately retaliates with duties on American goods and initiates an anti-monopoly investigation into Google. It also introduces export controls on 25 rare earth minerals and metals, including those critical for producing some electronic goods, and adds 12 US companies to its Unreliable Entity List and 15 to its Control List.

China also announces incoming retaliatory 10% tariffs on American agricultural machinery, crude oil, and large-engine cars.

25% tariffs on US neighbors Canada and Mexico delayed for 30 days as they work to counteract illegal immigration and drug trafficking, giving businesses time to plan mitigation strategies.

Mr Trump indicates his plan to impose tariffs on the European Union “pretty soon.” 

President Trump invokes IEEPA national emergency powers related to undocumented immigration and drug trafficking to sign an Executive Order to impose the following tariffs on February 4:

• 25% on imports from Mexico 
• 25% on imports from Canada, with a 10% tariff on oil and gas, and 
• 10% on all imports from China.

Trump announces his intention for new tariffs on pharmaceuticals and semiconductors, significantly threatening critical components in the technology sector.   

President Trump threatens 25% tariffs on all Colombian imports if it refuses to accept flights carrying deported US immigrants. Brief retaliatory tariff threats transform into acceptance of the flights, and both sides abandon their threats.

Following his inauguration, President Trump announces his plan to impose 25% tariffs on imports from Canada and Mexico on February 1. Specific plans for tariffs on Chinese imports are not immediately detailed. 

Trump issues a presidential memorandum outlining the “America First Trade Policy,” directing federal agencies to evaluate key aspects of US trade policy by April 30, 2025. The review aims to identify loopholes in tech export controls and provide recommendations to maintain America’s technological leadership, with a report due by April 1, 2025.