Countries and industries most exposed to Trump’s IEEPA-based tariffs

The U.S. Supreme Court is set to issue rulings on Friday on cases related to the legality of tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act.

The administration faces the possibility of having to refund nearly $150 billion paid in tariffs to importers if the court declares that the sweeping duties Trump has imposed under the IEEPA are illegal.

Major corporations such as Costco, Revlon, Ray-Ban eyeglass maker EssilorLuxottica , Bumble Bee Foods, Yokohama Tire and Kawasaki Motors have sued the U.S. government challenging IEEPA-based tariffs and seeking refunds on duties paid.

The tariffs invoked under the Emergency act fall into three categories: fentanyl-linked tariffs on China, Mexico and Canada; broad “reciprocal” tariffs aimed at shrinking trade deficits; and punitive levies against countries for non-trade political reasons.

Notably, pharmaceuticals, energy, agricultural commodities, services as well as aircraft and aerospace industries have been largely exempt from U.S. tariffs, protected due to their critical nature, global supply chains and potential impact on public health and international commerce.

China and Hong Kong, long-time hubs for consumer electronics, machinery, medical devices, chemicals, and toys, now see firms such as Lenovo, Volvo Cars, Costco, Walmart, Amazon, Target, and Apple confronting a 10% tariff on key exports.

Meanwhile, Brazilian companies in steel, aluminum, and agriculture—including Embraer, ArcelorMittal, Gerdau, and Marfrig—are subject to a steep 40% punitive tariff and an additional 10% “reciprocal” tariff, raising costs and uncertainty in the sector.

Across the Atlantic, the European Union and the UK face new levies on autos, machinery, industrial equipment, chemicals, consumer goods, and pharmaceuticals.

Source: Reuters

Sharing is caring!