The White House has undertaken extensive tariff actions throughout this summer. From extending China’s additional tariff pause another 90 days to imposing an additional 40% tariff on goods from Brazil, it has been a turbulent few months for U.S. trade policy.

Below are some important actions to be aware of:

  • Effective August 1, imports from Canada are subject to a 35% tariff, however, goods covered by the USMCA continue to be eligible for duty-free treatment.
  • On July 31st, the U.S. and Mexico agreed to extend their negotiations for 90 days.
  • On August 11th, the U.S. and China agreed to extend their negotiations for 90 days.
  • Effective August 6th, there is an additional 40% tariff on goods imported from Brazil (in addition to the existing 10%).

Effective August 7th, there are new reciprocal tariff rates that range between 10% and 41%. These rates were initially announced in April, with subsequent extensions during which some countries were able to negotiate. This chart includes the initial tariff rate announced in April and includes the increase or decrease between April and August. For all countries, there is a 40% tariff on any article determined to be transshipped to evade duties.

Effective August 29th, the de minimis tariff exemption for low-value goods (imports sent through the international postal network that are valued at or under $800) will be revoked.

TThis is a rapidly evolving space, and ISPA will continue to keep our members informed of significant developments related to U.S. trade policy. ISPA has convened a Trade Subcommittee to discuss new trade developments and actions that ISPA can take to advocate for the mattress industry amidst this rapidly evolving landscape. If you are interested in joining this Subcommittee or the broader Government Affairs Committee, please contact ISPA’s government affairs team (Alison Keane, Grant Johnson, and Marty Salamone).