2018 Tariff update and impact analysis

In recent months, the U.S. government has taken significant tariff action, affecting a variety of products in a wide array of industries. In light of these developments, KPMG's Trade & Customs team is happy to share this update with our clients.

Partner, Trade & Customs, U.S. National Practice Leader, KPMG US

+1 631-425-6057

Please note that because the situation is fluid and evolving on a near-daily basis, frequent updates are necessary to help ensure your company is acting on the most current information.

This slip sheet contains, broadly speaking, the United States has undertaken three different tariff actions, with varying implications: Section 201 safeguard tariffs, Section 232 national security tariffs, and Section 301 unfair trade practice tariffs.

Member states of the European Union, as well as China, Canada, Mexico, India, Russia, and Turkey have implemented or are planning to implement tariffs of various ranges on billions of dollars in a wide variety of U.S. exports, including: steel and metal products, vehicles, motorcycles, motorboats, whiskey, wine, prepared foods, agricultural products, coal, paper, tobacco, petrochemical products, fiber optics, cosmetics, and other consumer goods.

Developing your Section 301 trade mitigation strategy

The U.S. and China have shifted gears from threats to action in an increasingly hostile global trade environment. These times call for quick movement by company leaders to seek out tariff mitigation planning that could help alleviate lost revenue from the increased duty rates. KPMG can help.

Automotive industry tariff mitigation strategy

With tariffs on steel, aluminum, and certain goods and materials from China already in place, the U.S. trade team has negotiated the United States Mexico Canada Free Trade Agreement (USMCA) which tightens the rules on finished vehicles and automotive parts.