13 unchanged sentences
The Trump administration subsequently paused the additional country-specific reciprocal tariffs for all countries except China.
−Removed: As of May 5, 2025, imports from most countries, excluding those from Canada, Mexico, and China, are subject to an additional 10% tariff;
+Added: As of July 25, 2025, imports from most countries, excluding those from Canada, Mexico, and China, are subject to an additional 10% tariff;
imports from China are subject to an additional 30% tariff;
and non-USMCA compliant imports from Canada and Mexico are subject to an additional 25% tariff (except for Canadian energy and energy resources and potash, which are subject to a 10% tariff).
+Added: In addition, President Trump announced trade agreements with several countries, including the European Union and the United Kingdom, with baseline tariffs ranging from 10% to 20%.
+Added: On July 31, 2025, President Trump announced new reciprocal tariffs on nearly all countries, ranging from 10% to 41%.
In response to the U.S.
6 unchanged sentences
Department of Commerce has imposed tariffs of 50% on numerous categories of steel and aluminum imports, under Section 232 of the Trade Expansion Act of 1962, and has expanded these tariffs to include certain derivative steel and aluminum products.
−Removed: The Company imports products that are impacted by these tariffs.
−Removed: While we try to mitigate the impact of the existing and other proposed tariffs by the Trump administration through pricing and sourcing strategies, we cannot be certain how our customers and competitors will react to the actions we take.
+Added: On July 30, 2025, President Trump announced the results of a Section 232 investigation on copper, imposing a 50% tariff on imports of semi-finished copper and copper derivatives, effective August 1, 2025.
+Added: We import products that are impacted by these tariffs.
+Added: While we try to mitigate the impact of the existing and
+Added: other proposed tariffs by the Trump administration through pricing and sourcing strategies, we cannot be certain how our customers and competitors will react to the actions we take.
The tariffs have and could in the future negatively affect our ability to compete against competitors who do not manufacture in China and/or are not subject to the tariffs.
4 unchanged sentences
and China have increased and future actions by the U.S.
−Removed: or Chinese governments may impact our operations in and supply from China, as well as sales to and from China.
+Added: or Chinese governments may impact our operations in and imports from China, as well as sales to and from China.
In response, Russia and China have begun considering and, in some cases, implementing trade sanctions that could affect U.S.-owned businesses.
−Removed: The imposition of trade sanctions has and may in the future continue to make it generally more difficult to do
−Removed: business in Russia and China and cause delays or prevent shipment of products or services performed by our personnel, or to receive payment for products or services.
+Added: The imposition of trade sanctions has and may in the future continue to make it generally more difficult to do business in Russia and China and cause delays or prevent shipment of products or services performed by our personnel, or to receive payment for products or services.
Additionally, the military conflict between Russia and Ukraine and the global response to it has and may in the future adversely impact our revenues, gross margins and financial results.
17 unchanged sentences
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.