Trump signs new tariff document, imposing a 10% import tariff on all countries

The President of the United States, Donald Trump, signed an announcement imposing temporary tariffs. The announcement stipulates that within 150 days, a 10% import tariff will be levied on items imported into the United States, effective at 12:01 AM Eastern Standard Time on February 24.

Exempt from the new tariffs are certain critical minerals, metals used for currency and bullion, energy and energy products; including natural resources and fertilizers that cannot be grown, mined, or otherwise produced in the United States, or cannot be grown, mined, or otherwise produced in sufficient quantities to meet domestic demand; including certain agricultural products, pharmaceuticals, and pharmaceutical raw materials, as well as certain electronic products; including passenger cars, 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. In light of recent developments, additional tariffs imposed under the International Emergency Economic Powers Act will no longer be in effect and will be suspended as soon as practicable.