This week has seen a flurry of tariff news, although not the “90 deals in 90 days” once touted by the administration. Since President Donald Trump announced (and paused) sweeping tariffs in April, provisional agreements with China, Vietnam and the United Kingdom have been reached.

  • China: U.S. and Chinese officials in May reached a short-term agreement to lower tariffs on most Chinese goods to 30% for 90 days, while China agreed to cut tariffs on most American goods to 10% during the same period, ending in mid-August.
  • Vietnam: On July 2, the U.S. announced a trade deal with Vietnam in which the U.S. will impose a 20% tariff on Vietnamese imports into the U.S. and 40% on goods transshipped through the country. Vietnam is a key alternate sourcing hub for promo, so this could have significant impact.
  • United Kingdom: The U.S. trade agreement with the United Kingdom was announced in May and took effect on June 30. A blanket 10% tariff now applies to U.K. goods imported into the United States.

ICYMI: New Trade Deal Reached With Vietnam Prior To Deadline 

Canada Hit With 35% Tariff

On June 27, the president announced via social media that the U.S. would immediately halt trade negotiations with Canada because of that country’s digital services tax.

Both countries had stated a goal of reaching an agreement by July 21, but on July 10, Trump sent a letter declaring a 35% tariff on certain goods imported from Canada starting August 1 (exempting goods that comply with the USMCA), citing fentanyl and retaliatory measures from Canada.

Prime Minister Mark Carney responded in a statement on X that “The Canadian government has steadfastly defended our workers and businesses. We will continue to do so as we work towards the revised deadline of August 1.”

Tariffs On Steel, Aluminum, Copper

Tariffs on steel and aluminum imports to the U.S. were doubled to 50% starting June 4. This applies to all countries except the United Kingdom and includes derivative products that contain those metals. On July 8, the president announced a 50% tariff on copper imported into the U.S. starting August 1.

  • All of these metals are widely used in promo products including drinkware, signage and tech gadgets, so promo firms are likely to face rising input prices across the board.

ICYMI: ‘Supply Shocks’ Ahead? How Back-And-Forth Tariffs Are Affecting Global Shipping

Other Countries And Blocs Still Negotiating

  • European Union: Talks have not produced any concrete agreements so far, but the president of the European Commission said in a June 27 news conference that the EU is ready for a trade deal and working toward an agreement (but also prepared to move forward without a deal).
  • BRICS/Brazil: In a post on Truth Social, the president declared that countries “aligning themselves with the Anti-American policies” of the BRICS developing nations will be charged an extra 10% tariff, with no exceptions. The BRICS group – originally Brazil, Russia, India and China – now includes South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, the United Arab Emirates and Indonesia. On July 9, the president announced a 50% tariff on all imports from Brazil starting on August 1.

ICYMI: West Coast Port Slowdowns Ripple Through Promo 

Various Tariffs Announced By Letter

The current tariff rate for most other countries stands at 10% for now, with Canada and Mexico at 25% (other than USMCA-compliant goods). On July 7, the president began notifying various countries of higher tariff rates to take effect on August 1:

  • Bangladesh will be facing a 35% tariff as of August 1. This directly impacts the promo industry due to the significant amount of apparel sourced from the country.
  • Thailand at 36%
  • Indonesia at 32% (also a significant source of apparel)
  • Tunisia at 25% (down from 28% announced in April)
  • Bosnia at 30% (down from 35% announced in April)
  • Serbia at 35% (down from 37% announced in April)
  • Cambodia at 36% (down from 49% announced in April; also a significant source of apparel)
  • Japan and South Korea at 25%
  • South Africa at 30