6 unchanged sentences
trading partners, effective April 5, 2025, and additional, higher reciprocal tariffs on specific countries, effective April 9, 2025.
−Removed: Prior to when the country-specific reciprocal tariffs were scheduled to take effect, the administration delayed the effective date of such tariffs for all countries except China.
−Removed: Later, the U.S.
−Removed: and China reached a framework agreement that resulted in the suspension of the higher reciprocal tariffs on China until August 10, 2025.
−Removed: Three other countries, the United Kingdom, Vietnam and Indonesia, have also reached deals with the U.S.
−Removed: that include reduced tariff rates and other measures.
−Removed: The administration has not indicated the effective date for these deals.
−Removed: Recently, the administration announced an extension of the deadline for the effective date of the country-specific tariffs for all remaining countries until August 1, 2025.
−Removed: Currently, the 10% baseline reciprocal tariff announced in April 2025 remains in effect, in addition to the other tariffs on China (a minimum of an additional 20% as of July 15, 2025) and Canada and Mexico (25% as of July 15, 2025, for goods that are not covered by the USMCA).
+Added: Currently, the 10% baseline reciprocal tariff announced in April 2025 remains in effect, in addition to the other tariffs on China (a minimum of an additional 20% as of July 15, 2025, with additional tariffs pending subject to negotiations) and Canada and Mexico (25% as of July 15, 2025, for goods that are not covered by the USMCA).
As it pertains to the countries where we manufacture products, the additional, country-specific tariffs would apply to Vietnam, India, and Mexico.
2 unchanged sentences
As a result, our operating results could be adversely impacted if these tariffs are imposed.
−Removed: If these tariffs remain in effect, the tariffs and any countermeasures could also increase finished goods, and the cost of raw materials and components necessary for our operations, disrupt our global supply chain and create additional operational challenges.
+Added: Alpha Pro Tech, Ltd.
+Added: In August 2025, the U.S.
+Added: government imposed a 25% tariff on India in response to its continued importation of Russian oil, which is in addition to the pre-existing 25% individualized reciprocal tariff on India.
+Added: Increased tariffs by the United States have led, and may continue to lead, to the imposition of retaliatory tariffs or other measures taken by foreign jurisdictions, which may in turn lead to additional tariffs imposed or measures taken by the United States.
+Added: In August 2025, however, the U.S.
+Added: Court of Appeals for the Federal Circuit ruled that many of the tariffs imposed under the Trump Administration exceed presidential authority and therefore are invalid, though the decision has been stayed pending U.S.
+Added: Supreme Court review.
+Added: This ruling introduces additional uncertainty as to the scope and durability of existing and future tariff measures.
+Added: While the U.S.
+Added: government has announced various trade deals, many such agreements are preliminary and may be subject to change.
+Added: Certain of the tariffs have increased the cost of raw materials and components necessary for our operations and caused us in some cases to raise prices to our customers.
+Added: To the extent these tariffs remain in effect, the tariffs and any countermeasures could also cause further increases in the costs of finished goods, raw materials and components necessary for our operations, disrupt our global supply chain and create additional operational challenges.
We have experienced some adverse effects on our sales and costs due to the effects of actual and potential tariffs, and such effects could continue and potentially increase.
3 unchanged sentences
Such changes in tariffs and trade regulations could have a material adverse effect on our financial condition, results of operations and cash flows.
−Removed: Alpha Pro Tech, Ltd.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.