US Trade Tariff Updates: August 2025 Summary
The second Trump administration continues advancing reciprocal tariffs to address trade imbalances, with significant expansions under Section 232 for national security. This summary covers all key updates from July 25 to August 25, 2025, including changes to steel, aluminum, and copper tariffs.
Recent Updates (July 25 – August 25, 2025)
- July 30: President Trump ordered a 50% Section 232 tariff on copper imports (excluding refined copper and ore), effective August 7, targeting semi-finished copper and intensive products.
- July 31: Executive order modified reciprocal tariff rates, updating the Harmonized Tariff Schedule (HTSUS) to implement broader reciprocal duties.
- August 1: Tariffs effective on imports from multiple countries, including 35% on Canadian goods (USMCA-exempt), 20% on Vietnam, 40% on transshipments; increases on electronics; elimination of de minimis exemption.
- August 6: US finalized trade framework with EU, maintaining most tariffs but reducing auto tariffs from 27.5% to 15% conditionally.
- August 7: Full reciprocal tariffs implemented, raising US effective rate to 18.6%; 50% Section 232 tariff on copper takes effect; markets slumped amid tariff rollout and jobs data.
- August 12: US-China tariff truce extended 90 days to November 9, reducing US tariffs to 30% and China’s to 10% temporarily; ongoing talks aim to avoid escalation.
- August 15: Section 232 expanded to include 407 additional steel and aluminum derivative products (e.g., truck trailers, car parts, appliances) at 50% tariffs, effective August 18; revoked all country exclusions for aluminum derivatives.
- August 19: Adopted procedures for Section 232 inclusions process; 60 HTSUS codes excluded from derivatives list for now.
- August 22: Canada dropped most retaliatory tariffs on US goods, retaining those on autos, steel, and aluminum; President Trump announced investigation into furniture imports, with tariffs pending results.
- Trade deals finalized with Japan (24% to 15%), Indonesia (32% to 19%), Philippines; negotiations ongoing with EU (15% baseline) and others; additional 10% on BRICS nations.
- Economic notes: Tariffs now 5% of federal revenue; inflation expectations up; US average tariff on China at 145% via Section 301 hikes.
Current Status
As of August 25, 2025, reciprocal tariffs apply to over 20 countries at rates mirroring foreign duties, with US effective rate at 18.6%-20.4%. Section 232 tariffs expanded significantly on steel/aluminum derivatives (50% on 407 items) and copper (50%); exclusions revoked for aluminum. China tariffs at 145% minimum; bilateral truces and deals mitigate some impacts, but supply chains shift amid higher costs and uncertainties. Further adjustments expected from ongoing talks.