Trade Policy and Tariff Updates

AGMA & ABMA recognize that with the latest Executive Orders affecting trade and tariffs for domestic and international companies there is a great deal of uncertainty on how the supply chain for our industries will be impacted.

We are making it a priority to provide the most up-to-date information for our members about the important issues at hand. On this page you will find articles, curated webinars for the gear and bearing manufacturers, economic reports, forecasting information and so much more. We want to remain the periscope for our members regardless of what sector you are in and are here to help you navigate the many challenges ahead.

AGMA has both live and on-demand webinars with vital information and breaking news.

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*September 5, 2025 – Below is a summary of this broad-ranging document.  The US-EU joint statement is likely to serve (at least in part) as a template for similar joint statements by the United States and Japan and/or Korea in the coming weeks as those bilateral discussions continue.

Similar to the recent announcement concerning the US-EU trade deal, this announcement makes the following changes with regard to U.S. tariffs on imports from Japan:

  1. Applies U.S. “reciprocal” tariffs of 15% on terms identical to those granted EU imports.  Specifically:
    • If the U.S. normal customs duty (most-favored nation or “MFN” duty rate) exceeds 15%, then no additional “reciprocal” tariff (or Section 232 auto/auto parts tariff) will apply. Instead, only the MFN duty rate will apply.
    • If MFN duties  are less than 15%, then overall duty and tariff rates will increase to a total of 15% including reciprocal tariffs and any Section 232 tariffs on autos/auto parts that may apply.
  2. The U.S. tariffs adjustments described above will apply retroactively to 12:01 am Eastern US time on August 7, 2025 and refunds will be granted for imports since that date/time.
  3. Separately, no additional U.S. tariffs will be applied to imports of civil aircraft products and generic pharmaceuticals, pharmaceutical ingredients, and pharmaceutical precursors.
  4. The United States intends to implement agreement-specific rules of origin to prevent transshipment.  Such rules have yet to be announced.
  5. Other Section 232 tariffs, such as those on steel and aluminum product imports (and certain derivative articles) will continue to apply for now.  We may see further announcements on cooperation on those issues in the coming months.

For its part, the Executive Order states that Japan has agreed to:

  1. Provide U.S. manufacturing, aerospace, agriculture, food, energy, auto, and industrial goods producers with “breakthrough” openings in market access in Japan
  2. Increase purchases of U.S. rice and other agricultural products such as corn, soybeans, fertilizer, bioethanol, and other products totaling $8 billion annually.
  3. Remove additional testing requirements for U.S. passenger vehicles.
  4. Purchase additional commercial aircraft and U.S. defense equipment.
  5. Invest $550 billion in the United States in investments to be “selected by the Unite States Government.”

Please let us know if you have questions concerning the latest announcement and next steps in further implementation of this agreement.

April 2, 2025

President Trump Announces “Reciprocal” Tariffs Beginning April 5, 2025

By Nate Bolin, Dave Allman, Karla Cure, Myeong Park

On 2 April 2025, President Trump announced a series of “reciprocal” tariffs on US imports from all countries.  The tariffs apply at different rates by country, starting at a baseline of 10% and reaching as high as 50%. 

The tariffs, which are being implemented under the authority of the International Emergency Economic Powers Act (IEEPA), will go into effect at a rate of 10% on 12:01 am ET on 5 April 2025.  For some countries (see the complete list at the end of this alert), the 10% tariff baseline will increase to a higher per-country rate effective 12:01 am ET on 9 April 2025.

The latest tariffs are intended to address the customs duties and related VAT and non-tariff barriers imposed by each covered trading partner on US exports, as summarized in the National Trade Estimate Report issued by the Office of the US Trade Representative on 31 March 2025.

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Gene Marks, renowned keynote speaker and national business columnist, discusses tariffs and inflation on Fox News Live.

Gene has been breaking down the impact of tariffs and inflation all year and discusses what it means for manufacturers where supply chain costs and global trade policies directly affect the bottom line.

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AGMA and ABMA have partnered with Nate Bolin, Partner, K&L Gates, as our subject matter expert on all thigs related to trade and tariffs.

Nathaniel B. Bolin

Partner, K&L Gates

For more than 20 years, Nate Bolin has advised and represented US and global clients on export controls, economic sanctions, trade remedies, customs and tariffs, and related areas of national security and international trade laws. Nate has extensive experience with the trade and national security laws and policies governing advanced and emerging technologies in the aerospace, advanced materials, chemicals, defense, medical, oil and gas, semiconductor, telecommunications, and transportation industries. He also regularly helps clients successfully navigate the complex Committee on Foreign Investment in the United States (CFIUS) process and national security issues involving investments and cross-border transactions.

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