The Weekly Current

General / Compliance

Steel and aluminum tariffs of 25% are now in full effect for imports arriving after 12:01 AM on March 12, 2025. These additional tariffs are stacked on top of all other existing tariffs, and many previous exclusions have been eliminated. While the planned increase to 50% on Canadian steel was not implemented following the suspension of proposed electricity surcharges, the trade and tariff landscape remains highly fluid, with the potential for further increases. This morning, President Trump threatened a possible 200% tariff on alcoholic beverages from the European Union (EU).

In response, the EU announced retaliatory tariffs on U.S. products, including beef, poultry, bourbon, motorcycles, peanut butter, and jeans. Canada has imposed a 25% reciprocal tariff on steel products, as well as tools, computers, display monitors, sports equipment, and cast-iron goods from the U.S. Meanwhile, China enacted retaliatory tariffs on key U.S. agricultural exports, including soybeans, pork, beef, and fruit. U.S. Customs, software providers, and brokers are currently working through the implementation process. OCEANAIR will continue to monitor and provide updates as they develop, but for specific questions, please contact our compliance team at compliance@oceanair.net.