White House’s Latest Executive Order Modifies Reciprocal Tariffs

August 1, 2025 | The Toy Association™ is alerting members that on July 31, President Trump signed a new Executive Order modifying reciprocal tariff rates ranging from 10 to 41 percent on dozens of countries.

Any country not listed in the Executive Order’s listed countries (Annex 1) will be subject to a 10% rate. The rates will take effect within the next seven days. A second Executive Order was also issued addressing imminent 35% tariffs on Canada; products compliant with USMCA remain exempt from tariffs. The announcements came shortly after President Trump extended the deadline for a tariff deal with Mexico by an additional 90 days.

Members can access additional details below:

• Executive Order on Further Modifying Reciprocal Tariff Rates
• White House Fact Sheet on Reciprocal Tariff Modifications
• Canada Executive Order and Fact Sheet
• Truth Social Post on Mexico

The Toy Association will continue monitoring this evolving situation and keep members informed. Questions may be directed to Kathrin Belliveau, chief policy officer at The Toy Association.