Tariff Updates

Last Updated: 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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