Key Updates: Tariffs & Major Deals

U.S. and EU Strike Trade Deal

The U.S. and the European Union have reached a new trade agreement setting a 15% tariff on most EU goods, including cars and pharmaceuticals, avoiding a major trade war. The EU also committed to $750B in U.S. energy purchases and $600B in new investments. While key details are still pending, the deal aims to stabilize one of the world’s largest trade relationships.

U.S.–Japan Reach New Trade Deal 🇺🇸🤝🇯🇵

The U.S. and Japan have finalized a major trade agreement, lowering Japan’s tariff to 15% and unlocking a $550 billion investment in U.S. industries. The deal boosts access for American vehicles, agriculture, and LNG exports. Japanese auto stocks surged following the announcement, signaling strong investor confidence.

Doing business with Japan? Our team is ready to help you take advantage of the new trade terms.

📈 Interport is here to support and help you understand the best strategy for your cargo.

More Trade Deals! U.S. and Philippines 🇵🇭

During a July 22 meeting at the White House, President Trump announced a new trade agreement that will impose a 19% tariff on goods imported from the Philippines, a slight reduction from the previously threatened 20% rate. In return, U.S. exports to the Philippines will now enter duty‑free, and both nations committed to strengthening military cooperation. The move is part of a broader Indo-Pacific trade strategy and is expected to boost bilateral trade in the second half of 2025.

U.S.-China Trade Talks Resume in Stockholm

U.S. and Chinese officials met in Stockholm this week to extend a fragile tariff truce set to expire August 12. While no formal statements were made, talks were described as constructive, with both sides aiming to avoid a return to the steep tariffs seen earlier this year. China is pushing for reduced U.S. tariffs and fewer tech export restrictions, while Washington continues to press for fairer market access and limits on Chinese support for Russia and Iran. A 90-day extension of the current tariff levels appears likely, though deeper resolutions remain uncertain.

📈 Trump’s August 1 Tariff Deadline

The U.S. is set to impose new tariffs—up to 50%—on dozens of countries starting August 1, including Canada and Mexico. These “reciprocal tariffs” were originally delayed in April to allow time for negotiations. The White House has since finalized deals with the U.K., Vietnam, Indonesia, and most recently Japan, along with a preliminary agreement with China. Countries without a finalized deal could face steep new duties next week.

Shipping to or from any of these regions? Interport’s global network and tariff expertise can help you stay ahead—contact us for guidance.