Tariff measures affecting Mexico

25% tariffs on non-USMCA-qualifying Mexican goods, imposed March 2025 over border-security and drug-trafficking concerns after a one-month pause, with USMCA-originating goods exempted days later. The Supreme Court's February 2026 IEEPA ruling voided the program; paid duties are potentially refundable.

The first six-year joint review of the U.S.–Mexico–Canada Agreement is due July 1, 2026. If the parties do not confirm extension, USMCA enters annual reviews until its 2036 sunset — injecting duty uncertainty into every North American supply chain that relies on USMCA preference. USTR ran public hearings in late 2025; the review outcome will shape tariff exposure for Canada and Mexico sourcing for years.

Hours after the Supreme Court struck down the IEEPA tariffs, the administration imposed a 10% global import surcharge under Section 122 of the Trade Act of 1974. Section 122 caps such surcharges at 150 days unless Congress extends them, so the surcharge expires July 24, 2026 by statute. The Court of International Trade ruled the surcharge unlawful on May 7, 2026; the government has appealed and duties are still being collected while the appeal proceeds.

Current rate: 10% ad valorem on most imports, all origins

The April 2025 'Liberation Day' executive order imposed a 10% baseline tariff on nearly all imports plus higher country-specific rates. After a year of pauses, extensions, and litigation, the Supreme Court ruled 6–3 on February 20, 2026 that IEEPA does not authorize tariffs, voiding the entire program. Duties already paid — industry estimates run as high as $175 billion — are potentially refundable; the administration replaced part of the program with a Section 122 surcharge the same day.

National-security tariffs on steel, in place since 2018 and sharply expanded in 2025–26: the rate doubled to 50% in June 2025, country exemptions ended, the duty base now covers the full customs value of derivative articles, and hundreds of downstream products were added. A 15% transitional rate for certain metal-intensive equipment runs through December 31, 2027. Unaffected by the Supreme Court's IEEPA ruling.

Current rate: 50% on steel articles and most derivatives; 15% transitional rate for certain metal-intensive equipment

National-security tariffs on aluminum, expanded in lockstep with steel: 50% since June 2025 for all origins, derivative coverage broadened repeatedly, duties assessed on full customs value since April 2026, and a 15% transitional rate for certain equipment through December 31, 2027. Unaffected by the Supreme Court's IEEPA ruling.

Current rate: 50% on aluminum articles and most derivatives; 15% transitional rate for certain metal-intensive equipment

50% tariffs on semi-finished copper and copper-intensive derivative products, effective August 2025 — the first Section 232 action on copper. The regime was folded into the unified metals framework in 2026: expanded coverage in April, further adjustments and a 15% transitional rate for certain categories in June, running through December 31, 2027.

Current rate: 50% on semi-finished copper and most derivatives; some categories at 25% or the 15% transitional rate

25% tariffs on imported passenger vehicles and light trucks since April 2025, extended to key auto parts in May 2025. USMCA-qualifying vehicles are tariffed only on non-U.S. content, and an import-adjustment offset phases down support for U.S. assemblers. Unaffected by the IEEPA ruling.

Current rate: 25% on passenger vehicles, light trucks, and listed auto parts

25% tariffs on imported medium- and heavy-duty vehicles and parts, and 10% on buses, effective November 1, 2025 under a Section 232 national-security finding.

Current rate: 25% on medium- and heavy-duty vehicles and parts; 10% on buses

A narrowly targeted 25% tariff on advanced semiconductors above defined performance thresholds (high-end AI accelerators and their derivative assemblies), effective January 15, 2026. Broad exemptions cover U.S. data centers, startups, R&D, and public-sector uses. The measure followed months of much broader verbal threats — up to '100% on all chips' — that were never formalized at that scope.

Current rate: 25% on semiconductors above defined performance thresholds and derivative products

The April 2026 proclamation imposes a default 100% tariff on patented pharmaceuticals and ingredients, with carve-outs: 15% for the EU, Japan, South Korea, and Switzerland; 10% for the UK; 20% (falling to 0% with an MFN pricing deal) for companies with approved U.S. onshoring plans. Generics are excluded for now. Duties start July 31, 2026 for companies listed in Annex III and September 29, 2026 for everyone else — these are the next major compliance deadlines in pharma supply chains.

Current rate: Not yet collected

Tariffs on softwood timber and lumber (10%) and on upholstered furniture, kitchen cabinets, and vanities (25% and up), effective October 14, 2025, with scheduled escalations for furniture categories and country-deal carve-outs added by amendment in January 2026.

Current rate: 10% on softwood timber and lumber; 25%+ on upholstered furniture, kitchen cabinets, and vanities