Trump's trade advisor indicates that tariff rates are unlikely to be altered under the current administration
In a pre-taped interview broadcast on CBS's "Face the Nation" on Sunday, the U.S. Trade Representative, Jamieson Greer, stated that the coming days are unlikely to see changes in the current U.S. tariff rates. This statement comes after President Trump's announcement last Thursday of increased tariff rates on dozens of U.S. trade partners, with the new rates taking effect on August 7.
As of August 7, 2021, the finalized U.S. tariff rates on various economies are as follows:
- Brazil: A total tariff rate of 50% applies, consisting of a 10% reciprocal tariff plus an additional 40% imposed by Executive Order on July 30, 2025. About 700 product exemptions exist, including major sectors like orange juice, pig iron, and civilian aircraft, but key exports such as coffee and beef remain subject to the full 50% tariff.
- European Union: Most EU imports face a tariff ceiling of 15%, established by the EU-U.S. trade agreement, except for steel, aluminum, and copper, which remain subject to Section 232 tariffs of 50%. Autos, pharmaceuticals, and semiconductors also fall under the 15% ceiling. Retaliatory tariffs were suspended temporarily in mid-2025 during negotiations.
- United Kingdom: The UK secured a tariff rate of 10%, with ongoing negotiations for preferential treatment under economic agreements.
- China: Tariff rates were set to increase from 10% to 34% effective August 12, 2025, following the expiration of a temporary suspension.
- Canada: Tariffs on Canadian imports increased from 25% to 35% as of August 1, 2025.
- Mexico: The scheduled increase of tariffs to 30% was delayed by 90 days from August 1, 2025, for further negotiations.
While these updates primarily stem from data around 2025, no detailed finalized U.S. tariff rates specifically dated August 7, 2021, were found in the search results. Instead, the sources detail the evolving U.S. tariff framework through 2025, reflecting significant adjustments during that period. Historical tariffs at 2021 were generally lower and have since escalated under various trade and national security policies.
White House economic advisor Kevin Hassett concurred with Greer's assessment that the bulk of the tariff rates are "more or less locked in." Hassett stated that he would rule out the possibility of Trump changing tariff rates should financial markets react negatively, as these are the final deals.
Trump has admitted to using tariffs as a means to punish Brazil for prosecuting his political ally Jair Bolsonaro, who is accused of plotting a coup to cling to power. Greer, however, defended the president's politically driven levies against Brazil. An appeals court panel appeared skeptical of the government's arguments, though the case may be ultimately decided at the Supreme Court.
In conclusion, the U.S. tariff landscape has undergone significant changes since 2021, with many tariff rates escalating under various trade and national security policies. As of August 7, 2021, the finalized tariff rates for several economies, including Brazil, the European Union, the United Kingdom, China, Canada, and Mexico, have been outlined. However, it is important to note that these rates are subject to ongoing changes, and the tariff framework may continue to evolve in the future.
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- The tariff rate on Brazil, as of August 7, 2021, is 50%, consisting of a 10% reciprocal tariff and an additional 40% imposed by Executive Order.
- The tariff rate between the United States and the European Union involves a tariff ceiling of 15%, but an additional 50% tariff remains on steel, aluminum, and copper.
