Tariff Suspension Extended to August 1, New Country-Specific Tariffs Announced Amid Ongoing Uncertainty

TGA Members,

Over the last week, President Trump has made many announcements and decisions regarding tariffs. We expect additional updates in the coming days and weeks.

We were anticipating the Trump administration to provide clarification on many of the key points raised. However since those clarifications have not yet been issued, we are sharing what information is currently available as of Tuesday, July 8 at 4:30 PM ET.

We will continue to provide more updates as we learn more.

Suspension of Country-Specific Tariffs Extended Until August 1

Late on July 7, President Trump signed an Executive Order extending the suspension of country-specific “reciprocal tariffs” from July 9 to August 1 at 12:01 AM ET.

That means that all goods entered for consumption, or withdrawn from warehouse for consumption, after August 1 at 12:01 AM ET will be subject to the country-specific “reciprocal tariffs” (See more information below).

On July 8, President Trump stated on Truth Social that the August 1 deadline is a firm date, noting that “No extensions will be granted.”

U.S./Vietnam Trade Deal

On July 2, President Trump posted on Truth Social that a trade deal had been reached with Vietnam.

According to the post, U.S. imports from Vietnam will be subject to:

• A "20% Tariff on any and all goods”
• A “40% Tariff on any Transshipping”

However, despite almost a week having lapsed since the post, no additional information has been provided — including no fact sheets, Executive Orders, CSMS (Cargo Systems Messaging Service) messages from U.S. Customs and Border Protection (CBP), or public statements from Vietnam confirming that a deal was made.

Additionally, “transshipping” was not defined.

While transshipment – the practice of routing goods through a third country to avoid tariffs, such as moving products from China to Vietnam and relabelling them as "Made in Vietnam" and sending them to the U.S. – is already illegal under U.S. law, there is speculation that this announcement could signal a new rule of origin.

Rumors include potential new requirements such as:

• Limiting Chinese inputs to no more than 10% of the final product's value
• OR requiring 55% of the product’s value to come from local inputs and labor (i.e., substantial transformation + 55% value-added in Vietnam) in order to quality for the 20% tariff

As of July 8 at 4:30 PM ET, the Trump administration has not yet clarified:

• What “transhipping” means, or
• Whether the 20% and 40% tariffs replaces normal tariffs or if they are in addition to normal tariffs (“stacking”).

Other Country-Specific “Reciprocal Tariffs”

On July 7, President Trump posted letters on Truth Social that he supposedly sent to 14 countries defining their new country-specific “reciprocal tariff”, starting August 1.

It is unclear whether the respective countries have received these letters.

The letters, which appear virtually identical, state that the United States will impose the following country-specific “reciprocal tariffs” on the following key travel goods suppliers:

• Cambodia – 36%
• Indonesia – 32%
• Thailand – 36%
• Myanmar – 40%
• Bangladesh – 35%

Each letter also includes a statement: “Goods transshipped to evade a higher Tariff will be subject to that higher Tarff.”

Additionally, every letter invites the country to negotiate a better trade deal before the August 1 deadline.

Again, the letters do not indicate whether the new tariffs would replace normal tariffs or be stacked on top of them (“stacking”).

According to President Trump and key Trump Administration officials, an additional 15-20 letters may be issued by the end of day on July 9.

Please note that none of the proposed tariff rates outlined in these Truth Social letters are “official” at this time.

• These numbers are not included in the July 7 Executive Order
• They have not been published in the Federal Register
• No CSMS messages from CBP have been released confirming this

On July 8, President Trump reiterated his position on tariffs in a Truth Social post, stating that “…Tariffs have had ZERO IMPACT on Inflation.”

The tariff landscape remains very fluid and subject to change. We will continue to monitor developments closely and share updates as new information becomes available.