The New Trade Landscape 2025

Request for public comments and notice of public hearing

On September 16th, the Office of the United States Trade Representative (USTR) released a Federal Register Notice requesting public comments relating to the trade agreement between the United States, Mexico, and Canada (USMCA) in advance of the joint review of the agreement scheduled for July 1,2026. As directed by Congress, USTR is seeking public comments regarding the operation of the Agreement, including comments on the operation of the North American Competitiveness Committee.

The deadline to submit comments and request to appear at the hearing is November 3, 2025, at 11:59 p.m. EST. The request to appear must include a summary of testimony.

The public hearing will take place on November 17,2025, at 10am in the U.S. International Trade Commission building, located in Washington D.C.

To learn more, view the Federal Register Notice here.

Quick Reminder for Importers

The U.S. Department of Commerce issued a notice yesterday serving as a reminder that reciprocal tariffs on all Japanese-origin goods will be effective today, Tuesday, September 16, 2025.  Subsequently, U.S. Customs and Border Protection (CBP) issued Cargo Systems Messaging Service (CSMS) No. 66242844 explaining the implementation of the US/Japan modification of the US/Japan Agreement. The key issues detailed within the recent CSMS #66242844 include:

• The United States will apply a baseline 15 percent tariff on nearly all Japanese imports entering the United States, alongside separate sector-specific treatment for automobiles, automobile parts, civil aircraft and aerospace products.
• On September 15, 2025, Commerce posted the implementing notice, Implementing Certain Tariff-Related Elements of the United States-Japan Agreement, with the relevant HTSUS modifications and 99 numbers for public inspection on the Federal Register’s website, with a scheduled publication date of September 16, 2025.
• As an update to the guidance issued through CSMS 66146676 “Interim Guidance: Retroactive Implementation of the US-Japan Agreement”, filers can update their previously filed entries to apply the newly issued tariff rates. The new rates shall apply retroactively to products of Japan that are entered for consumption or withdrawn from warehouse for consumption on or after 12:01 a.m. eastern daylight time on August 7, 2025.

For additional details on the trade deal with Japan, please refer to our Trade Alert dated September 9, 2025.

On August 29, the Court of Appeals for the Federal Circuit (CAFC) ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the President the authority to impose specific import tariffs. Following this ruling, on September 9, the U.S. Supreme Court released an order that it will hear two pending cases (Learning Resources, Inc. et al. v. Trump, President of U.S., et al. (No. 24-1287) and Trump, President of U.S., et al. v. V.O.S. Selections, Inc., et al. (No. 25-250)) challenging the legality of the issuance of President Trump’s IEEPA tariffs. The deadline for filing briefs to the Supreme Court for these cases is October 30. For now, the IEEPA duties will remain in effect.

What does this mean for your company?

Unfortunately, this is uncharted territory, and we do not yet know the outcome of the IEEPA case.

Here are some options to consider:
• Monitor: It is crucial to track transactions and liquidation status where the IEEPA duties have been paid.
• Extension of Liquidation: A request to extend liquidation for affected entries can be submitted, but approval is not guaranteed. If CBP does not approve the extension and the entry liquidates, the next option is to file a protest.
• Protective Protest: If the entry has been liquidated, one option is to submit a formal protest against the liquidation to potentially preserve the right to a refund.
• File a lawsuit with the Court of International Trade (CIT): Importers can file legal action with the CIT to challenge the validity of the IEEPA tariffs.
• Take no action pending the Supreme Court Ruling: The case is now under expedited review by the Supreme Court, currently set to be heard the first week of November 2025. Importers can decide to wait and see if the Supreme Court upholds the CAFC ruling before determining a course of action.

Please note that Post Summary Correction (PSC) filings cannot currently be submitted for unliquidated entries that remove IEEPA tariffs. However, this may change in the future if the Supreme Court upholds the CAFC ruling.

It is currently unclear whether refunds will be issued if importers do not take action on the affected entries in the event that the Supreme Court declares these tariffs illegal. We recommend consulting with a trade attorney to determine your company’s best course of action.

Modified Reciprocal Tariffs Exclusion List

On Friday, September 5th, President Trump issued a new Executive Order (EO) modifying EO 14257, which was originally released in April to establish Trump’s “reciprocal tariff” program. As noted by trade attorney Michael Roll, “In EO 14257, Trump had created a list of products, which were listed in Annex II of EO 14257 (and are currently listed in US Note 2(v)(iii) to Subchapter III of Chapter 99 of the Harmonized Tariff Schedule of the United States (HTSUS)) that were specifically excluded from the reciprocal tariffs created by EO 14257 through use of HTSUS subheading 9903.01.32.”

The EO issued on Friday added new products to EO 14257 (thereby excluding these goods from reciprocal tariffs), while also removing products from Annex II (thereby making these products subject to the reciprocal tariffs).

You can view the full list of HTSUS codes for impacted products here. 

These changes took effect yesterday on September 8^th, for entries filed after 12:01 am EDT. Please view CSMS Message 66151866 for further details.

Retroactive Refunds of Reciprocals for Japanese-Origin Goods

On Thursday, September 4th, the Trump Administration issued a separate EO implementing the trade agreement with Japan. This new EO sets a cap of 15% on reciprocal tariffs for Japanese-origin goods. Under this framework, if the HTS chapter 1-97 rate for a Japanese product is 15% or higher, no reciprocal tariff applies. If the HTS chapter 1-97 rate is below 15%, the reciprocal tariff equals the difference between that rate and 15%. For example, a product with a HTS chapter 1-97 rate of 3% would have a 12% reciprocal tariff rate. Before the September 4 EO, CBP had been applying a 15% reciprocal tariff on top of the HTS chapter 1-97 rate.

As stated by Michael Roll,

“The new EO makes the 15% cap effective retroactive to August 7, 2025 and allows importers to apply for refunds via standard customs procedures (i.e., post summary corrections (PSCs) and protests). However, CBP immediately issued CSMS Message 66146676 advising imports to NOT file PSCs or protests until CBP issues further guidance and instructions.

Separately, the September 4th EO removed reciprocal and Section 232 aluminum, steel, and copper tariffs entirely from Japanese origin goods used in aerospace and that qualify for the World Trade Organization Agreement on Trade in Civil Aircraft. For autos and auto parts, the September 4th EO also eliminated the Section 232 auto and auto parts tariffs on goods whose regular rate of duty is 15% or more. For goods whose regular rate of duty is less than 15%, Section 232 auto and auto part tariff rates are now set at the difference between the regular rate and 15% (similar to the reciprocal tariff math described above)

Lastly, the September 4th EO directed the Commerce Secretary to modify the reciprocal tariff rate to zero for products that are natural resource unavailable (or unavailable at sufficient scale to satisfy domestic demand) in the United States, generic pharmaceuticals, generic pharmaceutical ingredients, and generic pharmaceutical precursors.”

Please Note:

While we aim to ensure customers are informed of these recent changes, we are currently awaiting official guidance from CBP to ensure shipments are processed in full compliance with the updated requirements.

On August 29, the U.S. Court of Appeals for the Federal Circuit upheld a lower court ruling that overturned the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The court found these tariffs exceeded presidential authority due to their broad scope and indefinite duration.

Despite the ruling, the tariffs are still being collected while litigation continues. The court also raised doubts about whether IEEPA allows for tariffs at all, though it stopped short of making a final decision.

We are monitoring developments of this case closely and will continue to keep you informed as new information emerges.

Section 301 Exclusions
On May 31, 2025, the United States Trade Representative (USTR) granted a three-month extension of certain exclusions from the China Section 301 tariffs. This extension expires on August 31, 2025. Read the official USTR Notice.

Tariff on Indian Imports
Effective on August 27, 2025, the United States will impose an additional 25% ad valorem tariff on imports of Indian products. This is in addition to the 25% reciprocal tariff, which took effect on August 7, 2025. View more details in our previous trade alert.

Section 321 Exemption Suspended
On July 30, 2025, President Trump signed an Executive Order suspending the de minimis exemption for commercial shipments globally, effective on August 29, 2025. As a result, imported goods sent through means other than the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption will be subject to all applicable duties.

For more information on this Executive Order, listen to the recent episode of our podcast Time Out for Trade, where Amy Magnus, Director of Customs Affairs & Compliance, explains the implications of the de minimis suspension. Watch it here.

Canada to Remove Tariffs on US Goods Covered by CUSMA
On August 22, 2025, the Canadian Government announced plans to eliminate tariffs on US goods that are covered by the Canada-US-Mexico Agreement (CUSMA), effective September 1, 2025. Canada’s 25% counter-tariffs on US steel, aluminum, and automotives will remain in place for now. The full statement from the Office of the Prime Minister of Canada can be found here.

On August 15, 2025, the Trump Administration greatly expanded the list of goods subject to 50% tariff included within Section 232 Aluminum and Steel duties. This is a significant development that U.S. importers should take note of, since the new list of HTS codes now includes a large number of products previously not considered steel or aluminum derivatives. These duties are now required (August 18, 2025), and the provision does not include exceptions for goods in transit.

As noted by attorney Michael Roll: 

"Many of these new HTS provisions would not normally be considered aluminum or steel derivative products ... at least not by any reasonable understanding of those words. For example... the list of goods now subject to the aluminum and steel tariffs include items as diverse as dairy products (0402), food preparations (2106), petroleum oils (2710), and certain chemicals, etc. While the 50% tariff will only apply to the aluminum/steel aspects of these goods (which will presumably be just certain aluminum and steel packaging or container type materials), it shows just how broad this administration intends to throw its tariff net".

Roll also states:

"Importers will recall that earlier this year the Trump Administration significantly expanded the list of products considered to be "steel derivative" and "aluminum derivative" products. The historic expansion of the 232 tariffs on aluminum and steel derivative products was only the beginning of the tariff nightmare for importers and brokers. The White House also allowed private parties to petition the Department of Commerce to include more products as aluminum and steel derivative products.

Under the "inclusion" process, the Department of Commerce created a process where every May, September and January, it will open up a two (2) week submission window to allow companies to ask for additional products to be included as aluminum or steel derivative products subject to the 50% tariff. The public will then have 2 weeks to review and comment on such proposals and Commerce will act on the petitions and comments within 60 days. See here for the relevant Federal Register notice.

On May 1, 2025, Commerce opened the first submission window. Over 50 companies asked Commerce to include hundreds of additional HTSUS classifications as aluminum and steel derivative products. On May 20, 2025, Commerce posted the petitions to regulations.gov, thereby starting the 14 day window for importers and the public to comment. The deadline for submitting comments was June 4, 2025. Friday's announcement represents the culmination of this first inclusion process. Next month, another window will open for parties to request even further expansion of the aluminum and steel tariff coverage."

To further aid our customers and partners, Deringer has compiled the government's list of additional products into a user-friendly Excel file.  The Unofficial New Expanded Section 232 Derivative List of August 15, 2025 may be downloaded from our Forms page.

Source:  Michael Roll, Roll & Harris LLP

On August 6, 2025, President Trump issued an Executive Order imposing an additional 25% ad valorem tariff on Indian product imports into the United States, effective 12:01 a.m. ET on August 27, 2025. This action is in response to India’s continued importation of Russian oil amid ongoing conflict in Ukraine.

This tariff is in addition to the 25% reciprocal tariff scheduled to take effect on August 7, 2025. Exceptions apply to goods that:

• Were loaded and in transit prior to 12:01 a.m. ET on August 27, and

• Are entered for consumption or withdrawn from warehouse before 12:01 a.m. ET on September 17, 2025.

Per the EO, the additional duty will not apply to:

• Articles subject to Section 232 actions under the Trade Expansion Act of 1962

• Articles excepted by 50 U.S.C. 1702(b)

• Articles listed in Annex II of Executive Order 14257 (April 2, 2025), as amended

Goods admitted into a Foreign Trade Zone on or after August 27 must be entered under privileged foreign status, unless eligible for domestic status under 19 CFR 146.43.

A. N. Deringer, Inc. will continue to monitor developments and provide updates as additional guidance becomes available from U.S. Customs and Border Protection.

The U.S. Presidential Administration issued an Executive Order and Fact Sheet addressing new International Emergency Economic Powers Act (IEEPA) Reciprocal Tariff rates for multiple countries, effective on August 7, 2025.

Key provisions outlined in the Executive Order and Fact Sheet include:

• There are two groups addressed in this Order:

  • Effective August 7th, goods from countries listed in Annex 1 will be subject to tariff rates as shown in the list provided by the White House. (The current IEEPA 10% tariff rate will remain in effect until August 7th for these countries.)

  • Countries that are not listed in Annex 1, will continue to be subjected to a 10% tariff. (This is consistent with IEEPA Reciprocal tariffs published April 2nd.)

    • Brazil is a notable exception – and is currently levied a 10% Reciprocal tariff stacked on the recently announced 40% tariff, for a total of 50%.

• There is an in-transit provision importers should note:

  • “Goods loaded onto a vessel at the port of loading and in transit on the final mode of transit before 12:01 a.m. eastern daylight time [August 7, 2025], and entered for consumption, or withdrawn from warehouse for consumption, before 12:01 a.m. eastern daylight time on October 5, 2025,” shall not be subject to the new rates, and remain subject to the 10% additional duty.

• The order also addresses transshipments, although a definition of ‘transshipment’ is not yet published:

  • If CBP determines there is a ‘transshipment’, it will be subject to a 40% tariff rate as well as any additional applicable duties, as well as possible fines or penalties.

  • The U.S. Government will also publish circumvention schemes and countries every six months to inform the public, national security reviews, and commercial due diligence.

Tariff Status for China, Canada, and Mexico:

• Recent negotiations between the U.S. and China has not yielded any formal changes, so current duty rates for the country include:

  • 10% IEEPA duties

  • 20% Fentanyl tariff

  • Section 301 tariffs

  • Section 232 duties

  • Most favored nations tariffs

• On July 31, 2025 Mexico received a 90-day extension for IEEPA negotiations.

• Effective today, August 1, Canadian goods imported to the U.S. that do not qualify for the U.S.-Mexico-Canada Agreement (USMCA) are now subject to a 35% tariff.

Annex 1

 USMCA Goods Remain Exempt 

President Trump issued an Executive Order raising the duties on Canadian goods bound for the U.S. from 25% to 35%, effective today, August 1, 2025. The order clearly states that “Goods qualifying for preferential tariff treatment under the United States-Mexico-Canada Agreement (USMCA) continue to remain not subject to the IEEPA Canada tariffs.”

Another important change noted in the Executive Order raises the tariff on transshipments from 35% to 40%. U.S. Customs and Border Protection (CBP) has issued official guidance through its Cargo Systems Messaging Service (CSMS, #65798609) overnight, with guidance on the additional duties on Canadian imports.

Recap of Executive Orders and Proclamations enacted by U.S. President Donald Trump on 7/30/2025

De Minimis Suspension
President Trump signed an Executive Order suspending the de minimis exemption for commercial shipments globally, effective on August 29. This means imported goods sent through means other than the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption will be subject to all applicable duties.

U.S. Copper Imports Subject to 50% Tariffs
President Trump issued a Proclamation stating that all imports of semi-finished copper products and intensive copper derivative products will be subject to a 50% tariff, effective on August 1st. This measure applies to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. ET on Aug. 1 and will remain in effect, unless such action is expressly reduced, modified, or terminated, according to the Proclamation. The Proclamation also states, “This tariff is in addition to any other duties, fees, exactions, and charges applicable to such imported semi-finished copper products and intensive copper derivative products.”

Tariffs on Brazilian Imports Increased to 50%
President Trump signed an Executive Order implementing an additional 40% tariff on Brazilian products under IEEPA, which brings the total tariff amount to 50%. The Trump Administration cites these tariffs are in response to “recent policies, practices, and actions by the Government of Brazil that constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.”

Major Tariff Changes & Investment Commitments

On July 27, 2025, President Trump and European Commission President von der Leyen announced a new U.S.–E.U. trade agreement with major implications for transatlantic commerce.

The E.U. will eliminate tariffs on U.S. goods and commit to $750 billion in U.S. energy purchases and $600 billion in U.S. investments. In return, the U.S. will reduce tariffs on E.U. goods, including autos, from 30% to 15%. However, steel and aluminum from the E.U. will remain subject to a 50% tariff.

For more information, click here to read the NCBFAA briefing.

Tariff enforcement postponed as negotiations continue

President Trump signed an Executive Order delaying the start of country-specific reciprocal tariffs from July 9 to August 1, 2025, citing ongoing trade talks and updated guidance. He also confirmed that 14 countries received letters warning of tariff hikes above 10% if no deals are reached by August 1, with more countries possibly to follow. These 14 nations represent a significant share of affected U.S. imports, broken down as follows:

1. Japan: 25%
2. South Korea: 25%
3. Tunisia: 25%
4. Malaysia: 25%
5. Kazakhstan: 25%
6. South Africa: 30%
7. Bosnia & Herzegovina: 30%
8. Indonesia: 32%
9. Serbia: 35%
10. Bangladesh: 35%
11. Thailand: 36%
12. Cambodia: 36%
13. Laos: 40%
14. Myanmar: 40%

The President mentioned an agreement with Vietnam, though no details have been released, leaving the nature of the deal open to speculation. He also announced via Truth Social that the U.S. has agreed with China to supply magnets and rare earth elements, and that student visas would be issued to Chinese citizens. Further specifics on both agreements have yet to be disclosed.

The delay affects specific tariff provisions in the Harmonized Tariff Schedule (HTSUS), which will remain suspended until the new effective date. Currently, the separate tariff suspension related to China under Executive Order 14298 remains unchanged.

For more information please visit: Extending the Modification of the Reciprocal Tariff Rates – The White House

U.S. Customs and Border Protection (CBP) has issued new guidance on how to report the country of smelt and cast on derivative aluminum imports for products subject to Section 232 aluminum measures when the importer does not know the country of smelt and cast.

Effective June 28, 2025, if the country of smelt and/or cast is unknown for such imports, then the importers should report “unknown” in lieu of the International Organization for Standardization (ISO) code for the unknown smelt and cast country.

When reporting “unknown”, importers will be required to report HTS 9903.85.67 or 9903.85.68, as applicable. These entries will be assessed the 200 percent Section 232 duties on imports of aluminum from Russia.

Detailed documents about the accompanying updates in ACE and the Entry Summary Error Dictionary are available on the ACE CATAIR webpage in the Draft Chapters: Future Capabilities section. This effort will deploy to the Certification and Production environments on June 28, 2025. More information related to Section 232 entry filing requirements can be found on the CBP website here.

Currently, we do not know if these changes will apply retroactively. A.N. Deringer, Inc. will continue to monitor the Federal Register, White House, and U.S. Customs and Border Protection official notifications, as well as the alerts posted by our partners and stakeholders, to keep our customers apprised of U.S. tariff changes and relevant policy changes.

Source: CBP