On April 2, President Trump signed an executive order implementing new reciprocal tariffs on all U.S. imports. The tariffs take effect in phases, starting with a 10% baseline rate on April 5, with higher country-specific rates for certain nations beginning April 9.

The Vision Council (TVC) recently issued a Q+A to provide an overview of how the tariffs will impact the optical industry.

The following are some key takeaways:

• A 10% “reciprocal” tariff applies to all imports starting April 5 in addition to any regular tariff or other special tariff currently effective on the product.
• Taking effect April 9, country-specific tariffs will graduate from the 10% rate to the following higher rates:
  • China, 34%
  • EU, 20%
  • Vietnam, 46%
  • Taiwan, 32%
  • Japan, 24%
  • India, 26% 
  • South Korea, 25%
  • Thailand, 36%
  • Switzerland, 31%
  • Indonesia, 32%
  • Malaysia, 24%
  • Cambodia, 49%
• Goods in transit before the tariff deadlines are exempt.
• Tariffs apply in addition to existing duties, except for certain Section 232 steel, aluminum, and auto tariffs.
• Imports from Canada and Mexico remain duty-free under the United States-Mexico-Canada Free Trade Agreement if they qualify under its rules.
• Goods with 20% or more U.S.-origin content are partially exempt.
• Foreign Trade Zone and drawback policies remain unchanged for now.
• De minimis exemption ($800 or less shipments) remains for most countries but ends for Chinese goods on May 2.
• The Executive Order allows for further tariff increases if trade imbalances persist or foreign countries retaliate.

TVC shares it will provide further updates as the situation evolves.