Understanding the 2025 Tariff Changes

In response to fentanyl concerns, the Trump administration imposed a 10% Tariff on imported products from China, on top of the 25% tariff imposed in 2018.

Executive Orders:

• Issued February 1st

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 10% IEEPA Fentanyl
  (effective March 4th)

The White House released the Reciprocal Trade and Tariffs Memorandum, outlining the Administration's strategy to tackle perceived imbalanced trade practices that harm the U.S. economy. The memorandum establishes a framework for building fairer, reciprocal trade relationships and addresses the structural factors contributing to the U.S. trade deficit, while also detailing the steps for implementation and evaluation.

Memorandum:

• Reciprocal Trade and Tariffs

The Fentanyl Tariff is increased to 20%.

Executive Orders:

• Issued March 3rd

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th, increased from 10%)

The Fentanyl Tariff goes into effect.

Executive Orders:

• Issued March 3rd

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th, increased from 10%)

In response to Nicolás Maduro's actions in Venezuela, the Administration threatens a 25% tariff on imports from countries that import Venezuelan oil. If imposed, it would be effective on or after April 2, 2025.

India is one country that may be affected, as they are importer of Venezuelan oil. 

Executive Orders:

• Issued March 24th

President Trump announced Liberation Day and introduced new tariff policies, including a 10% Baseline Reciprocal Tariff on all imported goods. Additionally, he introduced country-specific Ad Valorem duties on imports from numerous countries, including China and India.

Executive Order: 

• Issued April 2nd

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 10% IEEPA Reciprocal
  (effective April 9th)

For India: 

• 9903.01.25 / 10% Baseline Reciprocal Tariff
  (effective April 5th)
• 9903.01.55 / 26% Reciprocal Tariff
  (effective April 10th)
  

Sweeping Baseline Reciprocal Tariffs go into effect:

China: 25% + 20% + 34% =
79% Tariff paid by Salem Stones

India: 10% Tariff paid by Salem Stones

Executive Order: 

• Issued April 2nd

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% Reciprocal Tariff
  (effective April 9th)

For India: 

• 9903.01.25 / 10% Baseline Tariff
  (effective April 5th)
• 9903.01.55 / 26% Reciprocal Tariff
  (effective April 10th)

China retaliates with a 34% tariff on goods from the US. Our administration responded by stating, "If China didn't reverse the additional tariff before April 8th, we would add 50% to their Reciprocal Tariff."

The Chinese Reciprocal Tariff is increased to 84% and goes into effect. 

When combined with the preexisting tariffs, the new total tariff paid by Salem Stones reaches 129%.

Executive Orders: 

• Issued April 2nd
• Issued April 8th

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 84% IEEPA Reciprocal
  (effective April 9th,  increased from 34%)

The complexity and volatility of the escalating trade war with China delayed the Customer Tariff announcement by Salem Stones.

For India: 

• 9903.01.25 / 10% Baseline Tariff
  (effective April 5th)
• 9903.01.55 / 26% Reciprocal Tariff
  (effective April 10th)

The administration delays the Reciprocal Tariffs on most countries for 90 days (July 9th).

The Chinese Reciprocal Tariff is increased to 125% and goes into effect. 

The new total tariff paid by Salem Stones on products from China increased to 170%.

At 5 pm, Salem Stones emailed customers to notify them that an announcement on changes to the Customer Tariffs would be forthcoming.

Executive Orders: 

• Issued April 2nd
• Issued April 8th
• Issued April 9th

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 125% IEEPA Reciprocal Tariff
  (effective April 9th,  increased from 84%)

For India: 

• 9903.01.25 / 10% Baseline Tariff
  (effective April 5th)
• 9903.01.55 / 26% Ad Valorem duties
  (effective April 10th | 26% is suspended for 90 days or until July 9th)

A temporary suspension of the 2018 and Fentanyl Tariffs was put into effect until July 9th, effectively reducing the total tariff Salem Stones paid on imports from China to 125% from 170%. This was not widely publicized and was only seen as a banner on the Harmonized Tariff Schedule website.

The White House Press Secretary and major news outlets continued to publish the total tariff on Chinese goods as 125%.

Trade talks between the Trump Administration and China begin in Geneva, Switzerland.

The Trump Administration announced a 'Trade win' after the talks in Geneva concluded. The Reciprocal Tariff will be reduced by 115%, and other US measures will remain in place. Action is to take place by May 14th.

Executive Orders: 

• Issued May 12th

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th or until Aug. 12th,  reduced from 125% | 24% Ad Valorem duties  suspended for 90 days, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.01.25 / 10% Baseline Tariff
  (effective April 5th)
• 9903.01.25 / 26% Reciprocal Tariff
  (effective April 10th | 26% is suspended for 90 days or until July 9th)

The US Court of International Trade ruled that the administration did not have the authority to issue the ' Liberation Day' Baseline Tariffs under the International Emergency Economic Powers Act. The three-judge panel ordered the Trump Administration to issue new orders reflecting the injunction within 10 days. 

The Administration announced that it is appealing the decision.

US Court of International Trade Opinion:
25-66
V.O.S. Selections, Inc. v. Trump
State of Oregon v. Trump

The Court of Appeals for the Federal Circuit issued an order granting “an immediate administrative stay” of the May 28th ruling by the U.S. Court of International Trade, which determined that the Administration could not use emergency power to impose tariffs on imports from countries around the globe.

Court of Appeals Order:
2025-1812 V.O.S. Selections, Inc. v. Trump
2025-1813 State of Oregon v. Trump

The Administration announced that the 90-day suspension of Reciprocal Tariffs was extended until Friday, August 1, 2025. The modification of tariffs on goods from China, issued May 12th, remained in place and unaltered.

Executive Orders: 

• Issued July 7th
  

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% Ad Valorum duties are suspended for 90 days or until Aug 12th, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.01.25 / 10% Baseline Tariff
  (effective April 5th)
• 9903.01.55 / 26% Reciprocal Tariff
  (effective April 10th | 26% is suspended for 90 days or until July 9th)

Reciprocal Tariffs will go into effect on August 7, 2025. This will not affect the tariffs on Chinese imports. Annex I was introduced in the July 31st Executive Order.

India: 10% Reciprocal Tariff increases to 25% Total Tariffs paid by Salem Stones = 12.5% Customer Tariff

Cambodia: 10% Reciprocal Tariff increases to 19% Total Tariffs paid by Salem Stones = 9.5% Customer Tariff

Executive Orders: 

• Issued July 31st
  

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% Ad Valorem duties are  suspended for 90 days or until Aug 12th, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.01.55 / 26% Reciprocal Tariff -Replaced by Annex 1 of the July 31st Executive Order.
  (effective April 10th and suspended until August 1st)
• Annex 1 / 25% Reciprocal Tariff
  (effective August 7th)

For Cambodia: 

• 9903.01.75 / 49% Reciprocal Tariff - Replaced by Annex 1 of the July 31st Executive Order.
  (effective April 10th and suspended until August 1st)
• Annex 1 / 19% Reciprocal Tariff
  (effective August 7th)

The Federal Circuit Court heard oral arguments in the case against the Administration challenging the legality of tariffs imposed under the International Emergency Economic Powers Act (IEEPA). No judgments were issued from the bench. The stay issued May 29th remains in effect, which means the tariffs remain in effect.

The Supreme Court will hear oral argument in the pending appeal on November 5th.

Court of Appeals Order:
2025-1812 V.O.S. Selections, Inc. v. Trump
2025-1813 State of Oregon v. Trump

Citing India’s purchase of crude oil from Russia, the Administration announced new ad valorem duties on products imported from India. These duties will take effect in 21 days, on Wednesday, August 27, 2025.

Executive Orders: 

• Issued August 6th
  

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% Ad Valorem duties are suspended for 90 days or until Aug 12th, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.01.55 / 26% Reciprocal Tariff -Replaced by Annex 1 of the July 31st Executive Order.
  (effective April 10th and suspended until August 1st)
• Annex 1 / 25% Reciprocal Tariff
  (effective August 7th)
• 25% Ad Valorem duties (effective August 27th)

For Cambodia: 

• 9903.01.75 / 49% Reciprocal Tariff - Replaced by Annex 1 of the July 31st Executive Order.
  (effective April 10th and suspended until August 1st)
• Annex 1 / 19% Reciprocal Tariff
  (effective August 7th)

Reciprocal Tariffs for India and Cambodia are in effect.

India: 25% Total Tariffs paid by Salem Stones (does not include Ad Valorem duties = 12.5% Customer Tariff)

Cambodia: 19% Total Tariffs paid by Salem Stones = 9.5% Customer Tariff

China: 55% Total Tariffs paid by Salem Stones = 27.5% Customer Tariff

Executive Orders: 

• Issued July 31st
  
• Issued August 6th

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% Ad Valorum duties are suspended for 90 days or until Aug 12th, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.02.26 / 25% Reciprocal Tariff
  (effective August 7th)
• 25% ad valorem  duties
  (effective August 27th)

For Cambodia: 

• 9903.02.11 / 19% Reciprocal Tariff
  (effective August 7th)

The Administration has extended the suspension of the 24% ad valorem duties on Chinese imports for another 90 days. These duties are now scheduled to take effect on November 10, 2025.

Executive Orders: 

• Issued August 11th

Harmonized Tariff Schedule

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% ad valorem  duties are suspended for another 90 days or until Nov. 10, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.02.26 / 25% Reciprocal Tariff
  (effective August 7th)
• 25% ad valorem  duties
  (effective August 27th)

For Cambodia: 

• 9903.02.11 / 19% Reciprocal Tariff
  (effective August 7th)

The ad valorem duties of 25% on Indian imports take effect. 

When combined with the preexisting tariffs, the new total tariff paid by Salem Stones reaches 50% = 25% Customer Tariff.

Executive Orders: 

• Issued August 6th

Harmonized Tariff Schedule

For China: 

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 20% IEEPA Fentanyl
  (effective March 4th)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% ad valorem  duties are suspended for another 90 days or until Nov. 10, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.02.26 / 25% Reciprocal Tariff
  (effective August 7th)
• 9903.01.84
  / 25% ad valorem  duties
  (effective August 27th)

For Cambodia: 

• 9903.02.11 / 19% Reciprocal Tariff
  (effective August 7th)

The administration has issued two Executive Orders following the Kuala Lumpur Joint Arrangement, reached by the United States and China on October 30th. As part of this agreement, the IEEPA Fentanyl duty rate will be reduced to 10%, effective November 10th, and Reciprocal Tariffs will remain at 10% through November 10, 2026.

Executive Orders: 

• Issued November 4th - Fentanyl Duties
• Issued November 4th - Reciprocal Tariffs

Harmonized Tariff Schedule

For China: 

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 10% IEEPA Fentanyl
  (effective Nov 10th | reduced from 20%)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% ad valorem  duties are suspended until November 10, 2026, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.02.26 / 25% Reciprocal Tariff
  (effective August 7th)
• 9903.01.84
  / 25% ad valorem  duties
  (effective August 27th)

For Cambodia: 

• 9903.02.11 / 19% Reciprocal Tariff
  (effective August 7th)

The US and India released a joint statement outlining the key terms of an Interim Agreement reached during recent trade talks. The agreement reduces the reciprocal tariff rate to 18%, though no effective date has been announced. On the same day, an Executive Order was issued removing ad valorem duties on products from India, effective at 12:01 a.m. on February 7, 2026.

Executive Orders: 

• Issued February 6th - ad valorem Duties

White House Briefings & Statements:

• Issued February 6th - Interim Trade Agreement

Harmonized Tariff Schedule

For China: 

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 10% IEEPA Fentanyl
  (effective Nov 10, 2025 | reduced from 20%)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9th | 24% ad valorem  duties are suspended until November 10, 2026, leaving a 10% Baseline Reciprocal Tariff in effect)

For India: 

• 9903.02.26 / 25% Reciprocal Tariff
  (effective August 7, 2025)
• 9903.01.84
  / 25% ad valorem  duties
  (ended February 7,2026)

For Cambodia: 

• 9903.02.11 / 19% Reciprocal Tariff
  (effective August 7th)

The US Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) exceeded the authority granted to the President under that law. As a result, tariffs implemented under IEEPA were found unlawful.

In response, the administration ended certain tariff measures and began implementing alternative trade actions under different authorities.

US Supreme Court Ruling:

• Learning Resources, Inc. et al. v. Trump, President of the United States, et al. 
  
• Congressional Summary of the US Supreme Court Decision
• Recent US Supreme Court Decisions 

 Executive Orders: 

• Issued February 20th - Certain ad valorem Duties Ended

Harmonized Tariff Schedule

For China: 

• 9903.88.03 / 25% Section 301
  (effective January 2018)
• 9903.01.24 / 10% IEEPA Fentanyl
  (effective Nov 10, 2025 | reduced from 20%)
• 9903.01.63 / 34% IEEPA Reciprocal
  (effective April 9, 2025 | ad valorem  suspended)

For India: 

• 9903.02.26 / 25% Reciprocal Tariff
  (effective August 7, 2025)
  
• 9903.01.84
  / 25% ad valorem  duties
  (ended February 7, 2026)

For Cambodia: 

• 9903.02.11 / 19% Reciprocal Tariff
  (effective August 7th)