Foreign Trade News: The United States has significantly increased steel and aluminum tariffs to 50%, while the United Kingdom has been exempted

Release Time：2025-06-04 18:21:03 Views：58

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Foreign trade professionals need to pay attention to some new developments in foreign trade every day, especially those in the aftermarket of auto parts. The impact of bulk commodities such as steel and aluminum on the auto parts industry is often significant, which forces us to pay attention in a timely manner.

Recently, there have been significant and important news and policy releases in related fields such as foreign trade, import and export, trade, and customs, especially with the United States significantly increasing steel and aluminum tariffs to 50%, and only the United Kingdom being exempted.

Although the UK has been granted exemptions, it may soon become the only G7 country unable to produce primary steel, and its aluminum production itself is also limited. So, this exemption may have a symbolic meaning.

Let's take a closer look at the important parts of these new developments in foreign trade.

The United States has significantly increased steel and aluminum tariffs to 50%, while the United Kingdom has been exempted

  • US President Trump has signed an order to raise import tariffs on steel and aluminum from 25% to 50% starting from June 4th, in order to protect the US manufacturing industry. But the UK still maintains a 25% tax rate as trade negotiations between the US and UK are still ongoing.
  • The White House has confirmed that it has pressured trading partners to submit their best trade plans by July 9th, otherwise they may face higher tariffs.
  • Brazilian President Lula stated that if an agreement cannot be reached with the United States, he will consider appealing to the World Trade Organization (WTO) or taking equivalent measures.

China expands visa free policy to facilitate international business exchanges

  • China will implement a visa free policy for Brazil, Argentina, Chile, Peru, and Uruguay from June 1st, valid until May 31st, 2026.
  • Starting from June 9th, Saudi Arabia, Oman, Kuwait, and Bahrain will also be added to the visa free list, achieving full coverage of Gulf Cooperation Council countries.
  • The visa exemption agreement between China and Uzbekistan came into effect on June 1st, allowing a single stay of no more than 30 days.

Extension of EU battery bill benefits Chinese lithium battery companies

  • The due diligence on the battery supply chain, which was originally scheduled to be implemented by the European Union in August, will be postponed for two years, and the detailed rules for carbon footprint reporting will also be postponed due to the lack of implementation, giving Chinese lithium battery companies a buffer period.
  • The EU is China's largest export market for lithium batteries, with Germany, the Netherlands, France, Spain, and Hungary accounting for nearly 30% of China's lithium battery exports in the first four months of 2025.

The United States imposes high tariffs on solar equipment in Southeast Asia

  • The US International Trade Commission has determined that solar products from four Southeast Asian countries (Cambodia, Malaysia, Thailand, Vietnam) harm the interests of US manufacturers and has imposed high tariffs since June.
  • The tax rate for some enterprises in Cambodia is as high as 3521%, the average in Vietnam is 396%, Thailand is 375%, and Malaysia is 34%.

Thailand adjusts investment policy in response to US tariffs

  • Thailand has suspended investment incentives for industries such as photovoltaics and steel that are susceptible to US trade restrictions.
  • Add 9 categories of high-risk products to the monitoring list of origin, and strengthen the supervision of products exported to the United States.

Argentina gradually cancels import tariffs on mobile phones

  • Argentina announced a two-stage reduction in import tariffs on mobile phones: a decrease to 8% in June and a complete cancellation on January 15, 2026.
  • The domestic tax on mobile phones, televisions, and air conditioners has also been reduced from 19% to 9.5%.

Shanghai's foreign trade data shows growth, with impressive exports of electric vehicles

  • In the first four months of 2025, Shanghai's foreign trade imports and exports amounted to 1.4 trillion yuan, a year-on-year increase of 1%, of which exports increased by 13.8%.
  • Shanghai's electric vehicle exports account for one-fifth of the country's total, with trade growth rates exceeding 20% with Central Asia, the Middle East, and East Asia.

Other important policies

  • India restricts the import of certain goods from Bangladesh and only allows entry through designated ports.
  • Iran has raised import tariffs on basic commodities to 1%, covering wheat, pharmaceuticals, and more.
  • Saudi Arabia's new energy efficiency regulations for lighting fixtures will be enforced on June 1st, and old certificates will be invalidated.

Above are the recent foreign trade news. Welcome everyone to continue following, and timely access to relevant foreign trade, import and export, customs, etc!