US and Uzbekistan agree tariff cuts, advance trade deal talks

Customs and supply-chain teams now have a near-term planning question: which industrial and agricultural lines get relief first if the United States and Uzbekistan turn their June 25 early-harvest framework into actual tariff changes? Uzbekistan said it will eliminate or reduce tariffs on a wide range of U.S. goods, while the United States said it would give favorable consideration to tariff actions involving Uzbekistan’s industrial and agricultural products, consistent with U.S. law. The two governments also said they would accelerate talks toward an Agreement on Reciprocal Trade and Investment, with Jamieson Greer in Tashkent when the announcement was made.

The commercial backdrop is no longer minor. USTR says U.S. goods trade with Uzbekistan flipped from a $338.3 million surplus in 2024 to a $100.5 million deficit in 2025, as U.S. goods imports from Uzbekistan rose to $574.4 million, up 1,253.5% from 2024. Services trade was also meaningful, with an estimated $603 million in 2024 and $278 million in U.S. services exports. That combination makes landed-cost models, sourcing decisions and import classifications the immediate variables to watch if tariff lines start moving before a fuller agreement is signed.

For KPMG trade, customs, supply chain and transfer pricing teams, the first client conversations are likely to be about scenario planning, not headlines. If tariff exposure changes, finance teams may need to revisit margin assumptions; customs teams may need to update product flows and compliance documentation; and advisers will need to test whether procurement, inventory strategy or indirect-tax positions should shift in the next planning cycle. Uzbekistan may not sit on every multinational’s current sourcing map, but lower duties or easier market access can quickly turn it into a live issue for procurement and market-entry teams.

The deal also fits a faster-moving bilateral relationship. The U.S.-Uzbekistan Business and Investment Council launched in Washington in April 2026, co-chaired by Sergio Gor and Saida Mirziyoyeva, to accelerate trade and catalyze private-sector investment. On June 8, Uzbekistan’s Laziz Kudratov met U.S. Assistant Secretary of Commerce David Fogel to discuss expanding bilateral trade, economic, investment and industrial cooperation. Uzbekistan has also said it aims to complete World Trade Organization accession in 2026 after more than 40 rounds of bilateral negotiations, while the European Commission said bilateral market-access talks were concluded in October 2025. The June 25 framework sits inside that broader opening, and the next changes will come when product-by-product schedules and implementation rules turn the pledge into concrete work for customs brokers, logistics teams and advisers.