BDO Trade & Tariffs Update - 14th July 2025

In terms of understanding where we are at present:

• duties remain at the 10% rate for most EU exports to the US
• with certain sectors e.g. pharmaceuticals excluded and
• certain sectors e.g. steel at risk of up to 50% duties.

For convenience we have included these lists here which we would recommend you review:

• List 1 was approved some time ago and was due to come into effect at midnight tonight, however this has now been paused again until 1^st August.
• List 2 was subject to a consultation process which has now ended. We still await confirmation of which products on this list are retained and which removed.

Section 232

In parallel with the broader tariff measures, outlined above, separate investigations are ongoing under Section 232, some of which have heightened relevance for Irish Exporters:

• Steel and derivatives along with aluminium and derivatives: Import duties of up to 25% were introduced on 12th March and increased to 50% on June 4th. A number of exclusions to this rate however apply and if you are exporting steel, aluminium of derivates of same you should check whether you will be subject to the full duty or a portion of depending on the steel/aluminium content and potentially your tariff classification.
• Pharma: The results of the investigation in Pharmaceutical Imports is expected to conclude very soon with potential duty rates of up to 200% being proposed (currently Pharmaceuticals are excluded from the US tariffs). However President Trump has said there may be a 12-18 months window to allow Pharmaceutical Companies some time to relocate
• Aviation and Semi-Conductor: Investigations into Aviation and Semiconductor Imports remain ongoing

 For more information see Section 232 Investigations

Global Trade and Supply Chains

On a macro level we recommend reviewing and understanding the impact of tariffs on your Global supply chain. For example, outside of the EU there are now also a number of agreements and varying duty rates being applied on individual countries importing into the US.  

This can impact you if you either:

a) export from countries outside of the EU into the US, or

b) your exports might qualify as in fact “originating” in a non-EU country due to the non-EU content

In addition the EU continues to negotiate and develop Trade Agreements with countries outside of the US to enable companies develop opportunities on a global basis with a particular focus on South East Asia, Canada and Japan.  Through the BDO Global Network, we can work with you in identifying how these trade agreements might assist with diversification from the US market.

Sanctions

To add further to the complications of Global Trade it is now also more important than ever to be aware of the impact of Trade Sanctions and compliance with same. This is a particularly complex area with an increasing focus in terms of ensuring due-diligence in relation to the products you sell and the customers you sell to.

Should you need support we have a dedicated team who can assist with both Export Controls and Export Licensing as well as Sanctions Tracking and Screening.