Today isn't observed as Customs Day, contrary to some belief. - Celebrate Customs Day today!
The United States has set a new trade course with the implementation of tariffs on imports from various trading partners. As of early August 2025, the United States has set tariffs on imports from the European Union at a baseline rate of 15% on most goods under a new trade deal signed on July 27, 2025. This deal also includes commitments by the EU to invest heavily in the U.S. ($600 billion over the Trump administration's term) and to purchase $750 billion in U.S. energy exports through 2028.
The tariffs on goods from the European Union, Japan, and other major trading partners such as Canada, will have varying impacts. The European Union, Japan, and other partners will face a baseline tariff of 10% or higher, depending on their trade surpluses with the U.S. For instance, Canada faces 35% tariffs, with the threat of future conditions for countries without a trade agreement with the USA.
Regarding Japan and other major trading partners, the recent announcements focus more on a global tariff framework initiated by President Trump that includes a 10% global minimum tariff and 15% or higher duties for countries with trade surpluses with the U.S. No specific new tariff rates or bilateral deals for Japan were detailed in the July 2025 updates, but the global baseline tariff expansion is shaping overall U.S. trade policy.
The tariffs on EU aircraft, aircraft parts, certain chemicals, drug generics, and natural resources are set to revert back to pre-January 2025 levels starting August 1, 2025, indicating some tariff rollbacks in these sectors.
U.S. Customs and Border Protection announced by mid-May 2025 the procedures for refunding tariffs and modifying tariff classifications under Executive Order 14289, indicating ongoing tariff adjustments and administrative processes. The Commerce Department finalized new rules as of April 30, 2025, allowing certain aluminum and steel derivative products to be added to Section 232 tariffs on a scheduled review basis.
The European Union has been actively consulting on potential countermeasures to U.S. tariffs, covering about €95 billion of U.S. imports, with a public consultation completed by June 2025. These include possible retaliatory tariffs on aircraft, automobiles, and other key industrial products if negotiations falter.
The average U.S. tariff rate across all trading partners has increased, with an overall consumer price impact from tariffs reaching historic highs, including a heavy hit on textiles and apparel prices.
In summary:
| Trading Partner/Thematic Area | Tariff Status as of August 2025 | Expected Timeline/Notes | |-----------------------------------|------------------------------------------------------|------------------------------------------------------| | European Union | Baseline 15% tariff on most goods; some sectors revert to pre-Jan 2025 rates (aircraft, chemicals, etc.)[3][5] | Deal effective July 27, 2025; changes effective August 1, 2025 | | Japan | Subject to new global minimum tariffs (10% baseline), possibly 15%+ if surplus criteria met[2] | Ongoing tariff implementation; no specific bilateral deal announced in July 2025 | | Other Major Partners (e.g., Canada) | Varied increases, including up to 35% on Canadian goods in some sectors[2] | Implementation ongoing; variable by sector | | U.S. Steel/Aluminum Derivatives | Section 232 tariffs process formalized, allowing quarterly reviews for additions[1] | New process effective April 30, 2025; repeated review cycles yearly |
Thus, the current U.S. tariff policy reflects a combination of new baseline tariff increases globally, targeted trade deals with major partners like the EU, and continuing administrative and policy refinements primarily driven by 2025 trade strategy goals.
The Community policy and employment policy within the United States would be significantly affected by the new tariff policy, considering its impacts on various sectors including textiles and apparel. The ongoing negotiations between the United States and its trading partners, such as the European Union and Japan, also constitute a matter of general-news and politics, as they could further influence the country's employment policy.
