The below information has been provided in-part to RIM by the NCBFAA and the Counsel of Sandler, Travis, & Rosenberg PA.

President Trump Proposes 30% Tariffs for EU and Mexico August 1st

On Saturday, July 12th, President Trump announced on Truth Social that he sent letters to both European Commission President, Ursula von der Leyen and Mexican President, Claudia Sheinbaum warning that his administration is prepared to impose 30% tariffs on US imports from the EU and Mexico starting at 12:01 AM EDT on August 1st.

While both the EU and Mexico are negotiating with the US, President Trump expressed dismay with the lack of progress.

Since Monday, July 7th, President Trump has posted numerous letters to various countries on Truth Social, warning that his administration is prepared to impose a range of tariffs effective at 12:01 AM EDT on August 1st, unless suitable trade agreements are reached.

US Treasury Secretary, Scott Bessent said in a Truth Social post on Saturday, July 12th that the UK “smartly secured an early deal,” adding, “let this be a lesson to other countries – earnest, good faith negotiations can produce powerful results that benefit both sides of the table, while correcting the imbalances that plague global trade.”

Russia Given 50-Days to Stop Fighting with Ukraine or Face 100% Secondary Tariffs

On July 14th, President Trump said that he gave Russia a 50-day ultimatum to end its war with Ukraine or face the economic impact of secondary tariffs of 100% placed on its products.

“We are very, very unhappy with [Russia], and we’re going to be doing very severe tariffs if we don’t have a deal in 50 days,” President Trump said in video comments posted to X.

The secondary tariffs, if enacted, would apply to all countries that purchase Russian products. Details about what the tariffs would cover have not yet been given by the Trump Administration.

US Trade Deal Reached with Indonesia

The Trump Administration announced on July 15th that it had reached a trade deal with Indonesian President, Prabowo Subianto, which opens the entire country to US goods without tariffs.

In a Truth Social post, President Trump said Indonesia has committed to purchasing $15 billion in US energy products, as well as $4.5 billion in US agricultural products and a commitment to purchased 50 Boeing aircrafts. Indonesian products entering the US will also be subject to a 19% tariff, and if these products are transshipped from a higher tariff country, then that tariff will be added to the tariff which Indonesia is paying.

Trump Administration Imposes Tariffs on Mexican Tomato Imports

On July 14th, the Trump Administration imposed a 17% tariff on Mexican tomato imports, effectively ending a nearly three-decade old agreement between the US and Mexico to monitor this trade.

According to economists at the University of Arizona, the retail price at US grocery stores for Mexico-origin tomatoes could be 10% higher. The US had imported 70% of its tomatoes from Mexico.

The Commerce Department will be issuing an antidumping duty order, resulting in duties of 17.09% on most tomato imports from Mexico. Antidumping duties are calculated to measure the percentage by which Mexican tomatoes have been sold in the US.at unfair prices, the Commerce Department said.

On April 14th, the Commerce Department announced its intention to withdraw from the 2019 agreement, Suspending the Antidumping Investigation on Fresh Tomatoes from Mexico, with termination effective in 90 days, or July 14th. The Tomato Suspension Agreement between the US and Mexico has been in place since 1996.

RIM logistics, ltd. will continue to closely monitor this evolving situation and provide updates as necessary. Please reach out to your RIM representative if you have any further questions.