On 2 April 2025, US president Donald Trump announced new trade measures that include a 10 per cent baseline tariff on all imported goods, effective from 5 April 2025.

Additional tariffs, some as high as 34 per cent on specific Chinese imports, are set to take effect from tomorrow (9 April 2025). The US administration describes these tariffs as ‘reciprocal’ and targets countries identified as maintaining higher trade barriers against US exports.

Certain categories of products, including lumber, copper, semiconductors, pharmaceuticals and critical minerals, are not included in this round of tariffs. However, these goods remain under Section 232 investigations and could be subject to future duties. A separate 25 per cent tariff on imported automobiles and parts became effective on 1 April. These follow previously implemented tariffs on steel and aluminium.

What do ‘Liberation Day’ tariffs mean for the boating industry?