By: Brian Walczyk, Compliance Manager, TradeInsights, LCB, CCS

The week of July 7^th saw President Trump announce an extension to the IEEPA Reciprocal pause in an Executive Order. Following the EO a series of letters were sent to various trade partners, and shared on Truth Social, outlining what to expect come August 1^st, below is the summary: Each country is a link to the letter sent.

• Japan: 25% (+1)
• South Korea: 25% (flat)
• Malaysia: 25% (+1)
• Kazakhstan:25% (-2)
• South Africa: 30% (flat)
• Laos: 40% (-8)
• Myanmar: 40% (-4)
• Tunisia: 25% (-3)
• Indonesia: 32% (flat)
• Bangladesh: 35% (-2)
• Serbia: 35% (-2)
• Cambodia: 36% (-13)
• Thailand: 36% (flat)
• Bosnia: 30% (-5)
• Philippines: 20% (+3)
• Brunei:25% (+1)
• Moldova: 25% (-6)
• Algeria: 30% (flat)
• Iraq: 30% (-9)
• Libya: 30% (-1)
• Sri Lanka: 30% (-14)
• Brazil: 50% (+40)
• Canada: 35% (+10)

The original Annex I countries pause rates of 10% remain until this August 1^st deadline.

Brazil and Canada were not originally on the Annex I lists for Reciprocal, so it is currently unclear if these are increases to current IEEPA rates, or in addition to the IEEPA rates.

We will continue to provide updates as they are made available.

Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics.