24 Nov The Latest Tariff News: November 2025
In addition to the US-China update, the Trump administration has announced the following changes with regards to ongoing tariff discussions:
Canada
The U.S. reignited trade tensions with Canada by imposing a new 10% tariff on Canadian imports, despite the existing USMCA agreement. Currently, there is neither a timeline for when the new tariffs will take effect, nor is there any further information on what goods may be impacted.
Mexico
This nation has secured another extension on an impending 30% U.S. tariff deadline and the U.S. has also agreed to pause an increase in tariffs on heavy-duty vehicles made in Mexico for 90 days as trade negotiations continue.
Extra tariffs on steel imports
As U.S. industry embraces a call for more products to be taxed on import, the consequences on global trade are yet to be seen, with European industry leaders concerned about an ever-growing list of ‘steel derivatives’ that may incur additional levies.
American companies have asked the US Department of Commerce to add approximately 700 more items to an August list of 407 products already facing extra tariffs because of their steel content, potentially impacting goods such as bicycles, baking trays and much more.
Whist manufacturers across Europe had reconciled themselves to the tariffs that have already been announced, these new derivative tariffs could result in an even higher rate payable on steel, fuelling further uncertainty around trade relationships between the USA and European nations.
A decision on which products will be included in this new batch of tariffs is expected to be made in December. We will keep you updated of further changes in upcoming issues of our newsletter.
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