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12 March 2025 / Additional Resources
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Copy LinkAs of March 12, 2025, 5:30 PM ET
Links to The Conference Board general articles on tariffs:
| US Tariff by Country or Sector | Latest Rate of US Tariff | Dates of Major Actions | Related Retaliatory Tariffs | Links to The Conference Board Analysis |
| China | 20% in effect as of March 4 | Effective at 10% as of February 4; increased by another 10% on March 4, to a total 20% | After April 12 China said it will impose 15% tariffs on US products like chicken, wheat and corn, and 10% on products like soybeans, pork, beef and fruit, China also said 15 US companies could not buy from them without permission | |
| Mexico | 25% in effect for goods not covered by USMCA 10% in effect for potash (fertilizer) |
Implemented on March 4, but goods covered by USMCA are delayed until April 2. USMCA goods account for about half of what the US imports from Mexico | Mexico said they will announce retaliatory tariffs on April 2 | The Importance of Mexico to US Food Supply (February 4) |
| Canada | 25% nonenergy; 10% energy or energy resources 10% in effect for energy and energy resources 10% in effect for potash (fertilizer) |
Implemented on March 4, but goods covered by USMCA are now delayed until April 2. USMCA goods account for about 38% of Canadian goods imported into the US | Effective March 4 Canada imposed retaliatory tariffs on about $20 billion of US imports, including meat and dairy products, alcoholic and non-alcoholic beverages, tobacco, cosmetics, tires, clothing, paper products, tools, and appliances, there are separate retaliatory tariffs resulting from steel and aluminum, see below | |
| European Union | 25% not yet in effect | Announced February 26 | The European Union on March 12 announced retaliatory tariffs on $28 billion of US goods to take effect April 1, targeting American beef, poultry, bourbon and motorcycles, bourbon, peanut butter and jeans | |
| Global | TBD | Announced February 13, the Administration expects to announce a program of “Fair and Reciprocal” tariffs related to its 200 trading partners | ||
| by sector | ||||
| Steel & Aluminum | 25% in effect on March 12 | Announced February 10; effective March 12 for imports from all countries | Canada retaliated to the steel and aluminum tariffs with new duties on about $20 billion of US goods including steel and aluminum, and consumer goods including computers, sports equipment and cast iron products, effective March 13 | Steel & Aluminum Tariffs Will Hike Costs...on Buildings, Bridges, and More (February 12) |
| Autos | 25% not yet in effect | Announced February 12, effective April 2 | ||
| Semiconductors / Pharmaceuticals | 25%+ not yet in effect | Announced January 27, rate specified February 18, effective date unknown | ||
| Copper | TBD | Investigation February 25, report due November 22 | ||
| Timber | TBD | Announced March 1, report due November 26 | Policy Alert: Increasing Domestic Supply of Timber and Lumber (March 4) | |
| Note on Elimination of duty-free de minimis treatment for items otherwise subject to tariffs |
The de minimis exemption will be eliminated once the Secretary of Commerce determines that “adequate systems are in place to … collect tariff revenue.” |
