EO 14326 sets country-specific reciprocal tariff rates

On 31 July 2025 President Donald J. Trump signed Executive Order 14326, “Modifying Reciprocal Tariff Rates to Reflect Trading Partner Engagement and Modifying Status of Certain Reciprocal Tariff Rates,” modifying the schedule of country-specific reciprocal tariff rates under Executive Order 14257 of 2 April 2025, as amended by Executive Order 14266 of 9 April 2025 (90-day pause) and Executive Order 14316 of 7 July 2025 (extension to 1 August 2025).¹²³⁴ The order retains the 10 per cent reciprocal baseline tariff in force since 12:01 a.m. EDT on 5 April 2025 and establishes country-specific rates enumerated in Annex I for approximately 70 trading partners, with the new rates taking effect at 12:01 a.m. EDT on 7 August 2025.¹ Among the politically salient rates: the European Union and Japan at 15 per cent (under joint statements of 27 July 2025 and 22 July 2025 respectively); the Republic of Korea at 15 per cent (under a 30 July 2025 framework); the United Kingdom at 10 per cent (under the US-UK Economic Prosperity Deal of 8 May 2025); India at 25 per cent; Switzerland at 39 per cent; and Canada at 35 per cent (under the separate IEEPA fentanyl track, not the reciprocal regime). Brazil at 50 per cent flows from Executive Order 14323 of 30 July 2025, a separate IEEPA action, not Annex I of EO 14326.⁵⁶⁷⁸⁹ EO 14326 invokes IEEPA (50 U.S.C. § 1702(a)(1)(B)), the National Emergencies Act (50 U.S.C. § 1601 et seq.), § 604 of the Trade Act of 1974 (19 U.S.C. § 2483) and 3 U.S.C. § 301.¹⁰¹¹¹² Country letters posted by the President on Truth Social in waves between 7 and 31 July 2025 had previewed the rates.¹³ V.O.S. Selections, Inc. v. United States, No. 25-1812 (Fed. Cir.), heard the underlying IEEPA-authority question on expedited en banc oral argument 31 July 2025 (the same day as EO 14326’s signing); the Court of International Trade had ruled on 28 May 2025 (Slip Op. 25-66) that IEEPA does not authorise these tariffs, a holding then under appeal subject to the Federal Circuit’s 29 May 2025 administrative stay.¹⁴¹⁵

1. The 12:01 a.m. EDT effective time on 7 August 2025 is the entry-summary trigger at U.S. Customs and Border Protection; in-transit cargo loaded on a vessel at the port of loading before the effective date and entered for consumption before a separately specified later date are carved in at the prior rate.¹⁶ CBP collects the country-specific duty under HTSUS Chapter 99 subchapter III subheadings created or activated by Annex III of the order.¹⁷

2. The merits question under the IEEPA “regulate … importation” verb at 50 U.S.C. § 1702(a)(1)(B) sits with the Federal Circuit on expedited en banc review. If the Federal Circuit affirms the CIT’s 28 May 2025 holding that IEEPA does not authorise these tariffs, the rate schedule loses its statutory predicate; importer refund procedures would proceed under 19 U.S.C. § 1514 (protests) and 19 U.S.C. § 1520 (refunds), conditioned on the scope of the equitable remedy ultimately ordered and on Trump v. CASA, Inc., 145 S. Ct. 2540 (2025).¹⁸¹⁹

3. The reciprocal duties cumulate with other tariff regimes not covered by EO 14289’s anti-stacking precedence — the § 301 China duties, EO 14195 China IEEPA fentanyl, and MFN column-1 rates all apply on covered Chinese-origin goods alongside the reciprocal component. EO 14289 establishes precedence only among Section 232 auto/parts, EO 14193 / EO 14194, and Section 232 steel and aluminum.²⁰