Global Trade and Tariff Updates

A tariff is a tax imposed on goods imported into the United States, paid by the U.S. importer. Tariffs are one of several tools governments use to influence trade policy and negotiate diplomatic outcomes. They are typically designed to raise the cost of imported goods, making them less competitive compared to domestically produced alternatives.

When tariffs are implemented, importers must either raise their prices or absorb the additional costs—often squeezing already thin profit margins.

At the beginning of his second term, President Trump signed several Executive Orders introducing new tariffs: 25% on imports from Mexico and Canada, 10% on Canadian energy, and 10% on goods from China. While the China tariffs took effect on February 4, implementation of the Canada and Mexico tariffs was delayed until March 4 to allow further negotiations related to border security and fentanyl trafficking.

On March 3, the president confirmed that the delayed tariffs would go into effect the next day, and also announced an additional 10% increase on Chinese imports.

On February 10, new proclamations reinstated and expanded the Section 232 tariffs from Trump’s first term—25% on steel and now 25% (up from 10%) on aluminum, effective March 12. Previous exemptions for certain countries and products were removed.

On February 13, the administration introduced the “Fair and Reciprocal Plan,” aimed at evaluating imbalanced trade relationships and recommending matching reciprocal tariffs. Initial findings are expected to prompt further investigations and policy actions.

Additional investigations were launched under Section 232:

February 25: Copper imports and their potential impact on national security.

March 1: Imports of timber, lumber, and related products (e.g., paper, furniture).

Furthermore, the administration has warned of potential new tariffs on a wide range of industries—including autos, pharmaceuticals, semiconductors, and agriculture—as well as on trade with the European Union, with some actions possibly taking effect after April 2.

Universal and Reciprocal Tariffs:
On April 2, a national emergency was declared, and a 10% universal tariff on all imports took effect April 5. Reciprocal tariffs targeting about 60 countries with trade deficits followed, including a 34% tariff on Chinese imports effective April 9.

Increased Tariffs on Chinese Imports:
In response to retaliatory actions by China, the U.S. raised duties on low-value Chinese imports. The ad valorem duty rate increased from 90% to 120%, and the postal item threshold rose from $75 to $100, effective May 2.

Elimination of the De Minimis Exemption:
Effective May 2, the $800 duty-free threshold for Chinese imports was removed to curb the influx of low-cost goods and address concerns linked to China’s role in the synthetic opioid crisis.

These shifts reflect a more protectionist U.S. trade stance, raising concerns over inflation, global supply chain disruption, and retaliatory actions from key trade partners.

How Do Tariffs Affect the Attractions Industry?
The attractions industry depends on global supply chains for both component parts and finished goods. Tariffs—taxes paid by the importer—raise the overall cost of many of these items, often leading to higher consumer prices.

Small and medium-sized operators are particularly vulnerable, as they may lack the resources to absorb these cost increases. Many are left with no choice but to pass these expenses on to customers, impacting everything from ticket prices to food and merchandise.

The White House.gov Fact Sheets 

Office of the United States Trade Representatives 

Bloomberg News 

Trump Tariffs Tracker from Bloomberg.com (Paywall) 

European Commission

Global Trade & Tariff Tracker: Key Developments This Week from DGA Group (April 18, 2025)

Pillsbury Global Trade & Sanctions Law