Clyde & Co’s Tariff Tracker: May 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 May updates on the tariff tracker including updates in US tariffs, retaliatory tariffs and any after-effects, are set out below.

1 May 2025

What has been announced?

US tariffs

• On 29 April 2025, the US announced new measures to relax the US 25 per cent tariff on automobiles and auto parts.
• The 25 per cent tariff on imported vehicles into the US will continue, however, automobiles that go through final assembly in the US will be able to qualify for partial reimbursement on those levies for a period of two years.
• Manufacturers can apply for import adjustments based on the following schedule if the 25 percent tariff is on foreign automobile parts which make up 15 per cent of an automobiles suggested retail price:
  • Offsets of an amount equal to 3.75 per cent of the value of all automobiles assembled in the US before 1 May 2026;
  • After 1 May 2026, offset of an amount equal to 2.5 per cent of the value of all automobiles assembled in the US until 30 April 2027.

When will this come into effect?

• The US announced that the import adjustment for automobiles and auto parts was retroactive and so will apply to all tariffs that took effect from 3 April 2025.

See our Tariff Tracker