Taxes, Tariffs & Trade

Understanding the U.S. Tariff Landscape

Updated February 22, 2026

NAFEM informs and represents its members on the complex issues of U.S. taxes, tariffs, and trade, advocating for open and fair policies and rules that maximize market opportunities and cost-effective supply chain sourcing.

Tariff resources

While NAFEM regularly updates this resource page, we recommend regular communication with your customs broker for up-to-the-minute tariff information relative to your business and its products.

Supreme Court strikes down IEEPA tariffs

On Feb. 20, the U.S. Supreme Court ruled in a 6-3 decision that IEEPA does not authorize the imposition of reciprocal tariffs. In response, the White House announced a 10% temporary surcharge on global imports for 150 days – from Feb. 24 to July 24 – with exceptions listed in Annex I and II linked below. Subsequent proclamations called for determining whether modifications are needed to the Harmonized Tariff Schedule and for the continued suspension of duty-free de minimis for all countries.

The ruling did not address Section 232 or 301 tariffs. NAFEM will continue to update this Taxes, Tariffs and Trade webpage with the latest.

Section 301 tariffs upheld by Federal Circuit Court

In a unanimous Sept. 2025 opinion, the three-judge panel of the Court of Appeals for the Federal Circuit ruled that the first Trump administration was within its rights to expand the initial Section 301 tariffs on Chinese goods from $50 billion to $300 billion. The case was appealed to the SCOTUS, which elected not to hear the case.

Tariff Actions	Countries	Duty Rate	Commodities/Imports
Section 232	All countries, including Canada and Mexico, except Russia and the U.K. as detailed below	50% – effective June 4, 2025 Federal Register notice 407 add’l derivative product codes added Aug. 19, 2025 at the 50% rate Federal Register notice	For certain steel and aluminum articles, including derivative articles
	Russia	200%	For aluminum imports
	U.K.	25% – effective June 3, 2025	For certain steel and aluminum articles, including derivative articles (per the U.S.-U.K. Economic Prosperity Deal reached May 8, 2025)
	Semi-finished copper products from all countries	50% – effective Aug 1, 2025 White House Fact Sheet Details from the Coalition of American Metal Manufacturers and Users	Includes pipes, wires, rods, sheets, tubes and copper-intensive derivatives (fittings, cables, connectors, electrical components). Applies only to the copper content.
	Upholstered wood furniture from all countries	Effective Oct. 14, 2025 10% U.K. 15% EU 15% Japan 25% all other countries Presidential Proclamation	Planned 30% increase delayed to Jan. 1, 2027
	Semiconductors, semiconductor manufacturing equipment and derivative products	25% – effective Jan. 15, 2026 Presidential Proclamation	Tariffs do not apply when the chips are imported to support the buildout of the United States technology supply chain during ongoing trade negotiations with foreign jurisdictions that have the potential to strengthen the U.S. semiconductor industry.
De Minimis	No longer apply for any countries – effective Aug. 29, 2025 and reconfirmed Feb. 20, 2025
Section 301 tariffs on imports from China	Every product subject to the Section 301 actions is identified by an 8-digit or 10-digit HTS Subheading. The U.S. Trade Representative website provides a search engine for more information.
Temporary surcharge on global imports Presidential Proclamation, including Anex I and II	All items imported into the U.S. except those listed in Annex I and II	10% from Feb. 24 – July 24	Does not apply in addition to Section 232 tariffs. Also exempts Annex I and II product categories including: – Certain critical minerals – Energy and energy products – Metals used in currency and bullion – Pharmaceuticals – Certain electronics – Others as listed

Canada’s Response

The Government of Canada maintains a list of U.S. products subject to counter tariffs.

China Trade and Economic Deal

White House Fact Sheet

U.S. – EU Trade Agreement

EU announcement re: the U.S.-EU Framework Deal
Key provisions of the Agreement are provided by the Coalition of American Metal Manufacturers and Users (CAMMU).

The U.S. – U.K. Economic Prosperity Deal

The May 8, 2025 Agreement addresses steel and aluminum tariffs and numerous other trade-related topics.

Additional U.S. Investigations

The U.S. Secretary of Commerce initiated a Section 232 investigation under the Trade Expansion Act to assess whether imports of robotics and industrial machinery, and parts/components, pose a risk to national security. The scope of the investigation includes CNC machining centers, turning and milling machines, grinding and deburring equipment, and industrial stamping and pressing machines. It also includes automatic tool changers, jigs and fixtures, and machine tools for cutting, welding and handling work pieces. Application-specific specialty metalworking equipment used to treat, form or cut metal, such as autoclaves and industrial ovens, metal finishing and treatment equipment, EDM machinery, and laser and water-cutting tools and machinery also is included. Comments were due Oct. 17, 2025.
Following a Section 301 investigation of China’s targeting dominance in the maritime, logistics and shipbuilding sectors, the U.S. Trade Representative proposed significant service fees on China-bult vessels upon entrance to U.S. ports. Following negotiations with China, these fees were suspended for one year until Nov. 10, 2026. NAFEM, the U.S. Chamber of Commerce and 100+ others advocated against the proposal that would increase shipping costs, raise prices and decrease exports and imports.
The administration also launched a Section 232 investigation into Brazil’s trade policies. Comments were due August 18, 2025 and the U.S. Trade Representative held a hearing Sept. 3, 2025.

Global Market Access and Conformity Guide

NAFEM’s regularly updated resource to assist in the identification of international certifications, the Global Market Access and Conformity Guide provides certification contact information for fuel type, region and other data points to reduce research time. While this tool is updated periodically, we encourage companies to take all steps necessary to confirm and verify information for your specific products and market needs.

Additional Resources

Questions?

Contact advocacy@nafem.org