On Wednesday, July 23, the following tariff policies were announced:
The Philippines: According to President Trump, the U.S. will impose a 19% tariff on imports from the Philippines, higher than the 17% “reciprocal” duty the U.S. briefly imposed in April but slightly lower than the 20% tariff he threatened in a letter earlier this month.
Japan: In a post on Truth Social, Trump said the U.S. will charge a 15% tariff on Japanese exports to the U.S. in exchange for a $550 billion investment in the United States. Japan, he said, will open its market to U.S.-made “Cars and Trucks, Rice and certain other Agricultural Products, and other things.”
Additionally, on Tuesday, July 22, the White House released new details of the U.S.-Indonesia Agreement on Reciprocal Trade. Both a fact sheet and U.S.-Indonesia joint statement have been posted. Highlights include:
Indonesia will eliminate approximately 99% of tariff barriers for a full range of U.S. industrial and U.S. food and agricultural products exported to Indonesia. The United States will reduce to 19% the reciprocal tariffs.
The United States and Indonesia will negotiate facilitative rules of origin that ensure that the benefits from the agreement accrue to the United States and Indonesia, not third countries. The United States and Indonesia are committed to strengthening economic and national security cooperation to enhance supply chain resilience.
Indonesia has committed to join the Global Forum on Steel Excess Capacity and take effective actions to address global excess capacity in the steel sector and its impacts.
In the coming weeks, the United States and Indonesia will negotiate and finalize the Agreement on Reciprocal Trade, prepare the Agreement for signature, and undertake domestic formalities in advance of the Agreement entering into force.
View more details on the U.S.-Indonesia agreement here.
The RV Industry Association will continue to monitor developments and keep members notified of any updates. For questions, please contact Samantha Rocci, director of government affairs, at srocci@rvia.org.
For the latest on tariffs, visit the RV Industry Association’s Tariff Tracker…
