South Korea, similarly, had been subject to a 25% duty that was also briefly reduced for talks but is now being reinstated at full strength. In both cases, Trump has warned against retaliation, stating that any increase in their tariffs would result in matching increases from the US.
China, while not directly named in this latest round, remains a key figure in the broader trade conflict. Previous US-China trade negotiations reduced some duties from their peak of 145%, but controls on Chinese tech exports remain tight. Trump’s administration has not reimposed new reciprocal tariffs on China as of now, but the country continues to face a complex web of restrictions and targeted levies.Mexico and Canada, the US’s closest trade partners, are exempt from the new reciprocal tariffs due to their participation in the US-Mexico-Canada Agreement (USMCA). However, both nations continue to negotiate reductions in sector-specific tariffs, particularly on auto parts and metals. These discussions run parallel to Trump’s broader tariff push.
Beyond country-wide tariffs, the administration is also deploying Section 232 of the Trade Expansion Act to levy sectoral tariffs on industries such as autos, steel, and aluminum. These tariffs affect a wide array of countries, including members of the European Union, India, Vietnam, Brazil, and Turkey. While not yet part of the latest reciprocal round, these nations may still face fresh scrutiny if new sector-specific cases move forward.
With Treasury Secretary Scott Bessent hinting at more announcements within 48 hours, the list of targeted countries will likely expand. Trump’s trade doctrine appears to be entering a new phase, less focused on negotiated multilateral deals, and more centered on pressure, penalties, and executive action. For US trading partners, the message is clear: make a deal, or face the tariff.
