Clarify the latest U.S. tariff policy: suspend reciprocal measures in most economies, and impose 10% and industry tariffs
Internet reports that in the early hours of Thursday morning Beijing time, U.S. President Trump suspended the comprehensive reciprocal tariffs that took effect on April 9. The suspension period is now 90 days in order to conduct trade negotiations, but still retained the benchmark tariff of 10% on all goods entering the United States around the world (which took effect on April 5), and continued to impose tariffs on specific industries, while hinting that more might be imposed in the future. As a result, dozens of trading partners have been temporarily able to avoid the high tariffs of 11% to 50% announced by Trump last week. Currently, the 25% steel and aluminum tariff that came into effect on March 12 and the 25% automobile and parts tariff that came into effect on April 2 are still in effect. Auto parts that comply with the U.S., Mexico and Canada agreement will remain zero-tariff until U.S. Customs and Border Protection "establishes a process for imposing tariffs on their non-U.S. products." In addition, Trump said on Tuesday that major tariffs on drugs are coming.
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