Trump Signs New Tariff Order, Imposing 10% Import Tariff on All Countries

BlockBeats News, February 21st - President Trump of the United States signed a proclamation to impose temporary tariffs. The proclamation stipulates that within 150 days, a 10% import tariff will be imposed on goods imported into the United States, which will take effect at 12:01 a.m. Eastern Standard Time on February 24th.

The exempted goods from the new tariffs include certain critical minerals, metals used for currency and bullion, energy, and energy products; natural resources and fertilizers that cannot be planted, mined, or otherwise produced in the United States, or cannot be planted, mined, or otherwise produced in sufficient quantities to meet domestic demand in the United States; some agricultural products, pharmaceuticals and pharmaceutical raw materials, and certain electronic products; passenger vehicles, certain light trucks, and certain aerospace products. At the same time, the White House issued an executive order announcing the termination of certain tariff measures. Given recent developments, additional tariffs imposed under the International Emergency Economic Powers Act will no longer be effective, and will be discontinued as soon as practicable.