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.

28 July 2025

What has been announced?

US tariffs

• Indonesia: The US has announced a trade deal with Indonesia reducing the US tariff on Indonesian imports into US from 32 percent, as was threatened under the US ‘reciprocal tariffs’ regime, to 19 percent.
• Japan: On 23 July 2025, the US also announced a trade agreement with Japan that would impose a 15 per cent tariff on all Japanese goods imported into the US.
  • The 15 percent is lower than the 25 percent tariff that the US threatened Japan with as part of the ‘reciprocal tariff’ regime, which is currently due to take effect on other countries from 1 August 2025.    
• EU: on 27 July 2025, the US and EU announced a trade deal, where the parties agreed that a US tariff of 15 percent would be imposed on EU goods entering the US. This represents half of the 30 percent tariff which the US has threatened under the ‘liberation day’ tariff regime.

When will the tariffs come into effect?

• The lower tariff rate on Japanese, Indonesian, and EU products came into force immediately.

9 July 2025

What has been announced?

US tariffs

• The US has announced a further three-week suspension on the ‘reciprocal tariffs’, which were due to take effect against all countries from 9 July 2025, in an effort to grant additional time for countries to negotiate their trade deals with the US.
• The reciprocal tariffs are now due to take effect from 1 August 2025, with countries including Japan, South Korea and South Africa, likely to be subject to the higher tariff rates.  

When will the tariffs come into effect?

• The US ‘reciprocal’ tariffs on all countries will now come into effect on 1 August 2025.

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 on Chinese businesses avoiding 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