November ’25 at-a-glance … taxes, tariffs & trade

Tariff collections continue during shutdown 

U.S. Customs and Border Protection continue tariff collections during the government shutdown.  

Section 301 tariffs upheld  

The U.S. Supreme Court elected not to hear a final appeal questioning the legality of the Section 301 tariffs on Chinese goods. As all lower courts found the tariffs legal, they will remain in effect.  

Negotiations with China result in lower tariffs 

A White House fact sheet outlines recent negotiations with China. The U.S. lowered IEEPA tariffs on imports from the country to 10% for one year and China agreed to suspend all retaliatory tariffs. The additional Section 301 tariff of 10% on imported goods from China remains in effect. China also agreed to eliminate current and proposed export controls on rate earth elements and other critical minerals, and to end retaliation against U.S. semiconductor manufacturers and other U.S. companies. 

U.S. suspends fees on China-built vessels for one year  

Following a Section 301 investigation of China’s targeting dominance in the maritime, logistics and shipbuilding sectors, the U.S. Trade Representative proposed significant service fees on China-built vessels upon entrance to U.S. ports. Following negotiations with China, these fees were suspended for one year until Nov. 10, 2026. China also agreed to suspend sanctions on shipping entities. NAFEM, the U.S. Chamber of Commerce and 100+ others advocated against the proposal that would increase shipping costs, raise prices and decrease exports and imports.  

USMCA up for review, comment period open 

The US-Mexico-Canada Agreement (USMCA) is up for the mandatory six-year review in 2026. According to the terms, if any country objects to extending the agreement, it triggers an annual approval process and a countdown to the USMCA’s end in 2036. In anticipation of upcoming negotiations, comments were due Nov. 3 and the United States Trade Representative (USTR) plans a public hearing Nov. 17.  

Additional tariff updates 

The latest tariff information is available on the Taxes, Tariffs and Trade page of nafem.org. While NAFEM regularly updates this resource page, we recommend regular communication with your customs broker for the most current tariff information relative to your business and its products.