Clyde & Co’s Tariff Tracker: July edition

Clyde & Co’s Tariff Tracker provides an overview of all trade restrictions imposed or announced by the US and against the US. The tracker will be updated by our offices across the globe as new measures are introduced.

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The July updates on the tariff tracker including updates in US tariffs, retaliatory tariffs and any after-effects, are set out below.

7 July 2025

What has been announced?

US tariffs

• On 2 July 2025, the US announced a trade agreement had been reached with Vietnam, lowering the US ‘reciprocal tariff’ on Vietnamese imports into the US to 20 percent.

• The lower tariff represents a halving of the 46 percent tariff which was imposed against Vietnam as part of the US’s ‘liberation day’ tariff regime introduced on 2 April 2025.

• However, as part of the trade deal, the US and Vietnam agreed that the US would impose a 40 percent tariff on any ‘trans-shipping’ of Chinese products through Vietnam, to prevent any attempt by Chinese businesses to avoid the higher levies.

When will the tariffs come into effect?

• The lower tariff rate of 20 percent on Vietnamese products came into force immediately (i.e., 2 July 2025).

See our Tariff Tracker