The good news? Those reciprocal tariffs everyone was dreading are now on pause until July. Businesses are catching their breath and adopting that familiar wait-and-see approach while negotiations take the spotlight under these universal tariffs we're all trying to navigate.

Current tariff overview:
Country/Coverage  Tariff  Date active  Broad exemptions
Mexico 25% 4 March  Imports under USMCA
Canada 25% 4 March  Imports under USMCA
China 145% 9 April None announced
China, De minimis shipments (under $800) 30% of their value or $25 per item ($50 per item after June 1) 2 may  
Reciprocal - Universal 10% 5 April Product exemptions
Reciprocal - EU 20% July Product exemptions
Reciprocal - Other countries 11%-50% July Product exemptions
Steel & aluminium 25% 12 March Specific exemptions
Automotive 25% 3 April TBD
Pharmaceuticals TBD TBD  
Semiconductors TBD TBD  
Where we stand

Following the “Liberation Day” rollout of Trump’s reciprocal tariffs, the US now maintains a 10% baseline tariff on most imports, while China still faces elevated rates of up to 145%. Beijing responded with 125% duties, and the EU readied its own 25% retaliation— which was was paused in response to Washington’s sudden shift. Automotive, steel, and aluminum tariffs remain active

Trade talks begin

According to the White House, over 75 countries have initiated negotiations following the tariff rollout, with 15 already submitting concrete proposals. Trump’s Oval Office meeting with Italian Prime Minister Giorgia Meloni marked a first diplomatic outreach, with both leaders expressing optimism over a US-EU deal before the July deadline. While no substantive agreements were finalised, Trump confirmed plans for a future visit to Rome.

Semiconductors & Pharmaceuticals Under National Security Review

Amid ongoing negotiations, the Commerce Department has launched Section 232 national security investigations into three key import categories: semiconductors (including downstream electronics), pharmaceuticals, and processed critical minerals.

These reviews could pave the way for future tariffs on smartphones, laptops, medical products, and battery components. The public is invited to submit comments on all three investigations by May 7, 2025, as the administration weighs supply chain vulnerabilities and the impact of foreign imports on US economic and security interests.

Support for Swedish Companies Navigating US Tariffs
  • For general questions and regulatory clarifications, Kommerskollegium (Swedish National Board of Trade) offers a dedicated customs hotline (Tulljour) for companies seeking guidance on US tariffs, origin rules, and EU countermeasures.
    - Reach them at +46 8 690 48 62 or usa@kommerskollegium.se, weekdays 09:00–11:00 and 13:00–15:00 
  • For strategic support and export guidance, Business Sweden assists Swedish companies with market analysis, regulatory navigation, and hands-on support to adapt to tariff impacts and strengthen US market presence. 
    - If you need support in assessing your supply chain or navigating the impact of tariffs on your US operations, please contact Johan Karlberg. or Peter Ekdahl
    - For general questions about exports to the US, reach out to Business Sweden here
  • For diplomatic engagement and broader trade policy matters, the Swedish Embassy in Washington, D.C. represents Sweden’s economic interests and coordinates with US counterparts on trade issues and advocacy for Swedish business.
    - Please contact DC@gov.se for more information
SUBSCRIBE TO OUR U.S. TRADE POLICY BLOG

Stay ahead with the latest insights and updates from Business Sweden’s U.S. blog series.
Click here to subscribe now to receive email notifications for new posts.