President Trump Announces Higher Tariff Rates Effective August 1st
After announcing an extension of the reciprocal tariff rates from July 9, 2025, to August 1,2025, President Trump published letters which were sent to various countries indicating the tariff rate the United States will impose on that country’s imports if the country does not enter into a trade deal.
Most notably, the President announced on July 10, 2025, that Canada will face a 35% tariff rate on August 1st and stated in a letter sent to the Canadian Prime Minister, published on social media, that “[g]oods transshipped to evade this higher tariff will be subject to that higher tariff.”
Additional rates announced include:
- Brazil: 50%
- Bangladesh: 35%
- Cambodia: 36%
- Indonesia: 32%
- Serbia: 35%
- Thailand: 25%
50% Tariff on Copper Announced and 200% Potential Tariff on Pharmaceuticals
President Trump announced this week that there will be a 50% tariff on copper imports effective August 1, 2025. This announcement comes after the President directed the U.S. Department of Commerce to investigate copper imports under Section 232 to determine whether such imports raise national security concerns.
During the President’s cabinet meeting on July 8, 2025, he also raised the possibility of imposing a 200% tariff on pharmaceuticals. The U.S. Department of Commerce was also tasked with investigating pharmaceutical imports under Section 232 as well.
To date, there have been no official announcements through Executive Orders or Directives for either the copper tariff increase or the pharmaceutical tariff increase.
Senate Takes Up Russia Sanctions Bill
Senate Majority Leader John Thune (R-SD) indicated this week that the Senate is aiming to vote on bipartisan legislation imposing additional sanctions on Russia between now and the August recess. Speaker of the House Mike Johnson (R-LA) indicated he would support the sanctions bill.
PGA Filing Exemption for Certain De Minimis FDA Products Ends
On July 9, 2025, U.S. Customs and Border Protection (“CBP”) issued a CSMS Message alerting importers that “[e]ffective immediately, all FDA-regulated products must be submitted to the FDA for review” and that “[a]ll prior communications exempting certain low-value FDA-regulated products are rescinded.” Prior to this CSMS message, CBP could release certain low-value shipments without FDA review.
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