US import tariffs: what's going on

Donald Trump's 'America first' statement is widely known. The US president wants his country to become richer and more powerful again. With higher import duties in the US, he wants to make a fist against other big players in the market, like China and the European Union.

By making products from other parts of the world more expensive, Trump wants to make American products more attractive to residents of his country. Cars, for example. In 2024, half of new cars in the United States came from abroad. The president wants Americans to choose brands like Ford, Chevrolet, and Tesla more often. The thinking behind this? If Americans buy mostly stuff made in their own country, it will create more American jobs and give the economy extra support.

What are import tariffs? 

Import tariffs, or import duties, are a kind of tax.Importers pay these for importing products from another country and marketing them in their own country.Import duties are mainly there to protect a country's own industry.

What is happening?

When you import products, you often pay import duty. If your country has a trade agreement with an other country, you may pay less import duty, or none at all. 

In the beginning of April 2025, Trump decided to raise import tariffs substantially worldwide. For Europe, he then spoke of 20 per cent. That increase comes on top of the tariffs already in place. US companies can still import products from other countries, but will pay much more for this due to these increases.

On 9 April, Trump adjusted the measures for some 75 countries. They get a reprieve and lower tariffs. For products from the EU, this means import tariffs will not rise until 9 July 2025. Until then, normal tariffs will apply. From 9 July, 10 per cent will be added.

What are the consequences?

When imports become significantly more expensive for US companies, there are several consequences. In America, and here.

In America, importers are going to pay more for products from another country. They may make less profit as a result. Or they pass on the extra costs to business customers and consumers. In time, American entrepreneurs may choose to buy products and raw materials domestically. This reduces international trade. 

So the first effects of the new policy are mainly felt in America itself. After that, the rest of the world will soon follow. Dutch entrepreneurs may lose customers in America. They may have to work hard on their relationships. Or renegotiate prices to keep their customers.
If trade with America declines, forwarders, carriers, and ports will also feel it. Exporters will have to look for new customers.

How big are the consequences?

What exactly the impact of America's direction will be is difficult to estimate at the moment. It may also depend on the product you sell as an entrepreneur. For a producer of specialised agricultural machinery, business may go on as if nothing is wrong. An exporting wine producer might suffer a lot.

Trump changes his course regularly, and that makes predicting difficult. On 2 April, the US president first shared the import rates the US was going to charge. The import tariffs for China rose several times in the following days. This as the country took a hard line and in turn announced levies on US products.

How does Europe respond?

At first, the EU waited and reacted cautiously to the changed US policy. China hit back with counter-tariffs, resulting in a trade war. For other countries, including the EU, Trump then postponed the additional levies by 90 days.

Once import tariffs on European products are also raised, the EU will respond with countermeasures. If you want to market US products here, you will have to pay an additional 25 per cent import duty in many cases.