Tariff Talk Thursday is Back!
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Tariff Talk Thursday is Back!
Visit our Events page for details or register here.
AUGUST 2025
August brought significant trade developments, beginning with the implementation of new reciprocal tariff rates on August 7th, which raised questions around how the EU’s 15% rate should be reported to CBP. On August 12th, China’s tariff rates were left in tact, while the Putin–Trump Alaska summit drew attention for its potential influence on India’s oil tariffs. Trade experts also closely tracked agreements with major partners, including the EU, China, Japan, and South Korea. Throughout these rapid and unpredictable changes, OCEANAIR highlighted adaptability as a core value, as 2025 has seen more shifts in trade policy than even during the COVID years. The month closed with the U.S. and the EU announcing a Framework for an Agreement on Reciprocal, Fair, and Balanced Trade, with official start dates for many of the updates still pending.
The trend of tariffs as a monthly lowlight continued in August, with Brazilian goods hit with a 40% tariff and Indian goods with 25% under the IEEPA. At the same time, most trade partners shifted from the flat 10% rate to country-specific reciprocal rates. However, a potential increase on Chinese goods was delayed, and trade talks remain active with many partners. Notably, a new framework released for a U.S.–EU agreement signaled possible relief for certain sectors and commodities. Looking ahead to September, the highlight is that importers face no new imminent tariff changes this Labor Day weekend.
Last week, Yadim Yermolenko, a dual U.S.–Russian national, was sentenced to 30 months in prison and ordered to pay $75,547 in restitution. He pleaded guilty to conspiracy to violate the Export Control Reform Act, bank fraud conspiracy, and conspiracy to defraud the U.S. Yermolenko was involved in an arms trafficking and money laundering network that supplied ammunition and sensitive dual-use electronics to the Russian military and intelligence services, while also helping establish shell companies to conceal the true Russian end users.
On August 28, the Office of the U.S. Trade Representative (USTR) announced an extension of the final list of Section 301 tariff exclusions on Chinese goods. The 77 COVID-era exclusions cover products such as filtering devices, certain motors and valves, and a range of medical equipment. Originally scheduled to expire on August 31, these exclusions will now remain in effect through November 29, 2025. The Federal Register notice can be viewed here.
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