17 hours ago

Factbox-Countries and industries most exposed to Trump's IEEPA-based tariffs

Jan 8 (Reuters) - The U.S. Supreme Court is set to issue rulings on Friday on cases related to the legality of ​tariffs imposed by President Donald Trump under the International Emergency ‌Economic Powers Act.

The administration faces the possibility of having to refund nearly $150 billion paid in ‌tariffs to importers if the court declares that the sweeping duties Trump has imposed under the IEEPA are illegal.

Major corporations such as Costco, Revlon, Ray-Ban eyeglass maker EssilorLuxottica, Bumble Bee Foods, Yokohama Tire and Kawasaki Motors have ⁠sued the U.S. government challenging ‌IEEPA-based tariffs and seeking refunds on duties paid.

The tariffs invoked under the Emergency act fall into three categories: fentanyl-linked ‍tariffs on China, Mexico and Canada; broad "reciprocal" tariffs aimed at shrinking trade deficits; and punitive levies against countries for non-trade political reasons.

Notably, pharmaceuticals, energy, agricultural commodities, services ​as well as aircraft and aerospace industries have been largely exempt ‌from U.S. tariffs, protected due to their critical nature, global supply chains and potential impact on public health and international commerce.

Meanwhile, the EU and countries such as the UK, Japan, South Korea, Vietnam and Switzerland have struck tariff-reduction deals with the U.S. in exchange for market access and ⁠investment commitments.

Here are some countries and industries ​exposed to the IEEPA-based tariffs:

Countries Industry Companies Tariff

exposed impacted rate

China and Hong Consumer 10%

Kong electronics, Lenovo,

machinery,

medical Volvo ​Cars,

devices, Costco,

chemicals, toys Walmart,

Amazon, Target,

Apple

Taiwan Semiconductors/ 20%

chipmakers Foxconn, TSMC

Mexico Autos, auto no tariff

parts, Volkswagen, for

industrial General Motors, USMCA-comp

components, Ford liant, 25%

consumer goods for

non-USMCA

goods

Canada Metals, energy no tariff

products, Alcoa, for

manufactured TransCanada-lin USMCA-comp

goods ked suppliers, liant, 25%

Canadian steel for

producers non-USMCA

goods

European Union Autos, 15% on

(EU) and the machinery, AstraZeneca, most EU

UK industrial Tata Motors' goods,

equipment, Jaguar ‍Land 10%-25% on

chemicals, Rover, UK goods,

consumer ⁠goods, Stellantis, depending

pharmaceuticals Sanofi on

specific

product

and

category

Japan and Autos, Reduced to

South Korea machinery, Honda, Hyundai about 15%

industrial Motor, Samsung under

equipment, Electronics negotiated

consumer goods deals

Southeast Apparel, 19% to 20%

Asia, often footwear, Nike, Toyota, "reciproca

called the electronics Western l" rates

Read Entire Article

Comments

News Networks