July 10, 2025
Trade Alert: Reciprocal Tariffs Extended to August 1, 2025
U.S. Customs and Border Protection (CBP) has confirmed via CSMS #65573545 that the 10% reciprocal tariff under HTSUS 9903.01.25 will remain in effect for most countries until August 1, 2025. This extension follows President Trump’s Executive Order issued on July 7, which delays the reimposition of higher bespoke tariff rates originally set to resume on July 9.
Key updates:
Copper & Pharmaceuticals
The administration has signaled aggressive sector-specific tariffs under Section 232. A 50% tariff on copper imports is expected to take effect by August 1, triggering record price spikes and market volatility. Industry analysts warn of supply chain disruptions, especially given the U.S. imports nearly 50% of its copper from countries like Chile and Canada.
Meanwhile, pharmaceuticals face a looming 200% tariff, with a grace period of 12–18 months for manufacturers to shift production to the U.S. This move could significantly impact generic drug suppliers from India and Canada, and may lead to higher consumer costs and potential shortages.
We will continue to monitor this situation and provide updates when available. Please contact us if you have any questions about this or any other trade matter.
Key updates:
- 21 countries have now received final tariff letters, with country-specific rates scheduled to take effect August 1 unless bilateral trade agreements are reached.
- China (including Hong Kong and Macau) remains under a separate suspension until August 12, still subject to the 10% rate unless exempted.
- Vietnam is not yet covered by any formal Executive Order, though a potential 20–40% tariff has been floated.
Copper & Pharmaceuticals
The administration has signaled aggressive sector-specific tariffs under Section 232. A 50% tariff on copper imports is expected to take effect by August 1, triggering record price spikes and market volatility. Industry analysts warn of supply chain disruptions, especially given the U.S. imports nearly 50% of its copper from countries like Chile and Canada.
Meanwhile, pharmaceuticals face a looming 200% tariff, with a grace period of 12–18 months for manufacturers to shift production to the U.S. This move could significantly impact generic drug suppliers from India and Canada, and may lead to higher consumer costs and potential shortages.
We will continue to monitor this situation and provide updates when available. Please contact us if you have any questions about this or any other trade matter.
