Geopolitical tensions

Total: (Last update: July 12, 2025)

• United States announced reciprocal tariffs for the EU (30%) and Mexico (30%). An official notice is still pending. (12/07/2025)
• United States announced reciprocal tariffs for Brazil (50%) and Canada (35%). The countries that would not receive tariff letters could expect blanket tariffs of 15-20%. An official notice is still pending. (11/07/2025)
• United States issued a second round of letters for reciprocal tariffs to 7 countries: Algeria, Brunei, Iraq, Libya, Moldova, the Philippines, and Sri Lanka.  An official notice is still pending. (09/07/2025)
• China included 8 entities of Chinese Taipei to its Export Control List. (09/07/2025)
• United States announced copper tariffs are expected shortly. An official notice is still pending. (08/07/2025)
• China announced final ruling on the anti-dumping investigation of import-related brandy originating in the European Union. (07/07/2025)
• United States published a list of new reciprocal tariff rates for 14 countries, to take effect on 1 August 2025. The following rates will apply: Japan (25%), Republic of Korea (25%), South Africa (30%), Kazakhstan (25%), Laos (40%), Malaysia (25%), Myanmar (40%), Tunisia (25%), Bosnia and Herzegovina (30%), Indonesia (32%), Bangladesh (35%), Serbia (35%), Cambodia (36%), and Thailand (36%). For all other trading partners, the existing 10% reciprocal tariff is extended from the 9 July deadline to 1 August 2025. The bespoke rate suspension for China, Hong Kong, and Macau is extended separately until 12 August 2025. (07/07/2025)
• United States to end de minimis exemption (USD 800 threshold) from 1 July 2027 under the “One Big Beautiful Bill Act.” (07/07/2025)
• United States and Viet Nam agreed on a tariff deal: Viet Nam to allow duty-free U.S. imports; U.S. to impose 20% tariffs on Vietnamese goods and 40% on transshipped goods. Awaiting official text. (02/07/2025)
• United States- United Kingdom Economic Prosperity Deal establishes: (1) TRQ for 100,000 UK-origin vehicles at 10% duty (65,205 in 2025); (2) 10% duty on eligible UK parts (vs. 25% MFN); and (3) removal of tariffs on UK civil aircraft/parts. (30/06/2025)
• Indonesia to ease import rules on 10 product groups, incl. plastics, chemicals, footwear ahead of July 9 tariffs. Reforms are expected within two months. (30/06/2025)
• Canada introduced TRQs for non-FTA steel imports, capped at 2.6M tonnes. Exceeding volumes face 50% surtax. The TRQs apply to five product categories included in Annex I: flat, long, pipe and tube, semi-finished, and stainless steel; review in 30 days. (27/06/2025)
• China imposed 19.6–36.9% anti-dumping duties on EU toluidine for five years, starting June 28. (27/06/2025)
• India banned jute and fabric imports from Bangladesh by land; entry restricted to Nhava Sheva port. (27/06/2025)
• India imposed anti-dumping duties on plastic processing machines from China and Chinese Taipei for five years. (26/06/2025)
• Canada to adjust steel and aluminum countermeasures from 21 July, pending progress with U.S. talks. (19/06/2025)
• Chinese Taipei updated export control list to include 601 entities linked to arms development, incl. Huawei and SMIC. (15/06/2025)  
• United States extended 50% tariffs (Proclamation 10896) to include white goods and kitchen appliances from 23 June. (13/06/2025)
• China announced zero tariffs for all 53 African partner countries (excl. Eswatini). (11/06/2025)
• United States court hearing on IEEPA tariffs set for 31 July; duties remain in force. (11/06/2025)
• Viet Nam firms sign 20 MoUs worth $3 billion to import U.S. agricultural products. (09/06/2025)
• United States CBP updated the attachment containing the list of steel and aluminum HTS subject to Section 232, corresponding to the June 3, 2025, announcement. (09/06/2025)
• United States issued executive orders on drones: prioritize U.S.-made drones, enhance security, enable BVLOS, and screen foreign drones. (06/06/2025)

Russian invasion of Ukraine 

Total: (Last update: April 25, 2025)

• United Kingdom introduced a new trade sanctions package against Russia including business software restrictions, technology controls and additional export and import prohibitions. (24/04/2025)
• Belarus implements an export prohibition of 253 foreign-made product categories, including household appliances, vehicles, clothing and medical clothing. (24/03/2025)
• European Union adopts 16th package of sanctions against Russia, including an import quota on primary aluminium. (25/02/2025)
• Japan updates export ban to 335 industrial products that contribute to strengthening the industrial base of Russia (23/01/2025)
• Belarus extends import ban on additional industrial and household items until December 2024 (28/08/2024)
• United States introduces import ban on low-enriched uranium from Russia. (11/08/2024)