Tariff Updates
Last Updated: April 10, 2025
On April 5th, 2025, the U.S. imposed a 10% tariff on goods from nearly all countries, and announced additional planned reciprocal tariffs effective April 9th. As of noon EST on April 9th, the U.S. announced it will pause these additional reciprocal tariffs for 90 days for all countries other than China. On April 10th, 2025, a formal executive order was issued, confirming the 90-day pause. As a result, the baseline 10% tariffs, in addition to any other prior tariffs, remain in effect for these countries.
Below is a summary of current tariff rates now in effect.
Tariff Rates on Goods from China. While we expected tariffs on goods from China to increase to 34% on April 9th, that percentage was further increased to 84%, and then again to 125%. This new tariff is in addition to other tariffs that were previously in place. A breakdown of the total tariff rates on goods from China as of April 10th, 2025, is as follows:
- 25% Section 301 (since 2018)
- 20% IEEPA (effective March 2025)
- 125% IEEPA (effective April 2025) This was initially expected to be 84%.
Total China Tariff of 25% + 20% + 125% = 170% effective April 10th
Tariff Rates on Goods from Canada and Mexico. Tariffs on goods from Canada and Mexico remain unchanged; all USMCA-compliant goods are not subject to additional tariffs, and all TricorBraun suppliers in those countries meet USMCA requirements under our trade compliance program.
As a reminder, indirect cost increases remain a risk, as rising raw material and component costs—especially metals impacted by tariffs—and higher prices for domestic alternatives continue to affect the broader supply chain.
April 3, 2025
On April 2, the U.S. announced additional baseline tariffs of 10% on most global trading partners to take effect on April 5. The administration also announced additional reciprocal tariffs on many trading partners to take effect on April 9. These higher reciprocal rates (in effect from April 9) will replace the baseline 10% tariff rates (in effect from April 5) for affected countries. For those countries not subject to the higher reciprocal rates on April 9, their baseline rate will remain at 10%.
New Reciprocal Tariffs on Imports from Other Countries. Effective April 5, 2025, the U.S. imposed a 10% tariff on goods from nearly all countries. Higher reciprocal tariffs take effect only for certain countries on April 9, 2025. A subset of countries is listed in the below table, but the full list can be seen in Appendix 1 to the most recent executive order:
*Note – for countries affected by the reciprocal tariffs on April 9, these new higher rates replace the 10% baseline rate. They are, however, in addition to any other tariffs previously in place.
Tariff Rates on Goods from China. The additional 10% baseline tariff on Chinese products imported into the US will apply from April 5 to April 9. On April 9, this incremental tariff will increase from 10% to 34%. These new tariffs are in addition to other tariffs already in force, comprised of Section 301 tariffs of 25% (from 2018) and 20% tariffs enacted under IEEPA earlier this year. The total tariff rates on goods from China are as follows:
April 5-9: 55% (25% + 20% + 10%)
After April 9: 79% (25% + 20% + 34%)
Update on Canada and Mexico. Outside of the implementation of new tariffs of 25% on auto imports from all countries effective April 3, including Canada and Mexico, there has been no change to the tariff regime for these countries. That means that all USMCA-compliant goods are not subject to additional tariffs at this time – except steel and aluminum (implemented March 12) and automobiles (implemented today). As previously noted, all TricorBraun suppliers in Canada and Mexico are USMCA compliant, as documented under our trade compliance program. These suppliers are not currently subject to tariffs.
Update on Steel and Aluminum. 25% tariffs on steel and aluminum imported from all countries to the United States went into effect on March 12. At that time, finished aluminum cans and imported beer packaged in aluminum cans were excluded from the tariffs. On April 4, these items were added to the tariff list and are now tariffed at the same rate of 25%.
Potential Indirect Cost Increases. Beyond these direct tariffs, we recognize that prices may increase on products that are not directly tariffed themselves. This is due to rising raw material/component costs which are subject to tariffs, particularly metals, and higher costs for domestic alternatives as supply chains adjust to increased import costs.
As these market changes evolve, we will continue to monitor the impact and provide updates accordingly. We stand ready to leverage our global scale and expertise to help you navigate these challenging times.
March 13, 2025
Canadian retaliatory tariffs targeting C$29.8B of imports from the US to Canada, were implemented at 12:01 am EST on Thursday, March 13. These tariffs are a response to the US implementing 25% tariffs on steel and aluminum imports on Wednesday, March 12. These tariffs cover various U.S. goods with steel and aluminum content being imported into Canada, including certain packaging components, such as aluminum cans.
EU retaliatory tariffs have been announced unless a resolution is reached before the effective dates. The first phase will take effect on April 1, suspending countermeasures previously set on $8.7B of US exports. The second proposed list covers a wide range of products, including packaging components and inputs, valued at $19.6B of US Exports. This phase has a stated implementation date of April 13.
Update on 25% tariffs on steel and aluminum imports into the US. Tariffs were implemented March 12 on steel and aluminum imports into the US from all countries. Although these tariffs only apply to imported products, we have also seen increases on domestically sourced metal products, as domestic steel pricing has increased in conjunction with imports becoming more expensive.
The summary of tariffs currently in force is as follows:
Given the many unknowns, TricorBraun is committed to partnering with you to assess cost implications and ensure you have the packaging supply chain strategy that meets your business needs.
March 12, 2025
Steel and Aluminum imports into US: Additional 25% tariffs on Steel and Aluminum imported to the US from any country, announced on February 10th, have taken effect on Wednesday, March 12th. This tariff applies on some finished goods at their full value and to others only on the raw material cost, not the value added to the products. We will provide more information on this tariff as implementation details become available.
March 7, 2025
As your trusted packaging partner we wanted to provide an update and emphasize that we are here to help you navigate this period of volatility.
Imports into the US from Canada and Mexico: On February 1st, the U.S. government announced 25% tariffs on all goods from Canada and Mexico (with a lower rate of 10% for oil and critical minerals). While these tariffs were initially delayed for 30 days, they ultimately took effect from 12:01 am EST on Tuesday, March 4th through 12:00 am EST on Friday, March 7th, making them effective for a total of 72 hours or three days. Inventory imported during this time will have the tariffs applied per US regulation.
At 12:01 am EST on Friday, March 7th, the U.S Government removed the 25% tariff on all goods from Canada and Mexico that qualify as Originating Goods under the USMCA Trade Agreement. As part of our ongoing trade compliance program, all of our suppliers from Canada and Mexico have been previously qualified under the USMCA. As a result, the 25% tariff no longer applies to goods TricorBraun imports from Canada or Mexico effective 12:01 am on Friday, March 7th.
Imports into the US from China: On February 1st a 10% increase in tariffs on Chinese goods was enacted. Additionally, a further 10% tariff was implemented on Tuesday, March 4th. While there were exemptions for shipments already in transit as of February 1st, this only applied to shipments received before March 4th. The 20% tariffs implemented this year are in addition to the existing 25% tariffs on Chinese products that remain in effect. As a result, the current tariffs on Chinese goods into the US are 45% as of March 4th.
Imports into Canada from the US: Canada responded to US tariffs by announcing a retaliatory tariff of 25% on C$30B of consumer goods made in the US, taking effect at 12:01 a.m., Tuesday, March 4th, with a subsequent tariff of 25% applying to an additional C$125B of US goods effective March 25th. It was originally expected that packaging components shipped from the US to Canada would be impacted beginning March 25th, but the Canadian Government has delayed issuing a new list until April 2nd. We will provide more information on this potential second wave of tariffs if and when they become available. The original tariffs on C$30B of consumer goods remain in effect.
Steel and Aluminum imports into US: Additional 25% tariffs on Steel and Aluminum imported to the US from any country, announced on February 10th, are expected to take effect on Wednesday, March 12th. Although these tariffs do not go into effect until next week, we are already seeing increases to domestic prices for these goods. This tariff applies on some finished goods at their full value and to others only on the raw material cost, not the value added to the products. We will provide more information on this tariff next week as implementation details become available.
Further retaliatory, reciprocal, and separate EU tariffs have been announced but not yet implemented. Given the many unknowns, TricorBraun is committed to partnering with you to assess cost implications and ensure you have the right packaging supply chain strategy for your business.
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