Pegasus Market Update Q2 2025: No.18

April 3, 2025

Dear All,

Below is a quick recap of our interpretation of the Reciprocal Tariffs that were announced yesterday, April 2, 2025. We will provide you with more information once receive from CBP.
Please see the below article from the White House for more details
Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security – The White House
Cargo that departed origin before April 5th are not subject to the additional tariffs
Cargo departing between April 5th - April 8th are subject to 10% reciprocal tariff
Cargo departing April 9th and after will be subject to the reciprocal tariff listed on Annex I- Annex-I.pdfEditSign
All countries not listed in Annex I will continue to be subject to 10% reciprocal tariff
* China's reciprocal tariff rate includes Hong Kong and Macau
Below are excluded from the Reciprocal Tariff
Canadian & Mexican Goods that qualify for USMCA
Steel/aluminum articles and autos/auto parts already subject to Section 232
HTS #’s provided in the attached Annex II


Thank you


Annex -I
Annex-II



Author
Veronica Grippi | Director of Operations

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