President Trump Announces Reciprocal Tariffs

On Wednesday, April 2, 2025, President Trump announced reciprocal tariffs on foreign products. Speaking from the Rose Garden, the President stated that the rates will be based on the combined rate of tariffs and non-monetary barriers (such as currency manipulation, subsidized exports, etc.). The President is once again relying on the International Emergency Economic Powers Act of 1977 (IEEPA) for authority, and has declared that foreign trade and economic practices have created a national emergency.

The United States will impose a 10 percent tariff on imports from all countries around the world and will apply an additional, individualized tariff to 50 countries his administration believes have the most unfair trade relationships with the U.S. The 10% baseline rate will take effect on April 5, 2025 at 12:01 am. The individualized rates will take effect on April 9, 2025, at 12:01 am. The tariffs will be half of the combined rate of tariff and non-tariff barriers the country places on the United States. The White House’s Rapid Response account posted the list to X.

These tariffs will remain in effect until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated. The order also gives the President authority to increase the tariff if trading partners retaliate, or decrease the tariffs if partners take “significant steps to remedy non-reciprocal trade agreements and align with the United States on economic and national security measures.”

Of note:

• Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that are not available in the United States.
• For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect, and are unaffected by this order. This means USMCA compliant goods will continue to see a 0% tariff, non-USMCA compliant goods will see a 25% tariff, and non-USMCA compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration IEEPA orders are terminated, USMCA compliant goods would continue to receive preferential treatment, while non-USMCA compliant goods would be subject to a 12% reciprocal tariff.

The White House’s full fact sheet is available here.

The RV Industry Association will continue to update this piece as more details of the plan become available. Please contact Samantha Rocci, Director of Federal Affairs (srocci@rvia.org) with questions.

Looking for past updates? Check out these articles:

• New Tariff Developments: What RV Industry Association Members Need To Know
• President Trump Imposes 25% Tariff On Automobiles, Certain Auto Parts