According to ChainCatcher, US President Trump signed a proclamation imposing temporary tariffs. The proclamation stipulates that a 10% import tariff will be imposed on goods imported into the United States for 150 days, effective at 00:01 Eastern Standard Time on February 24.
Goods exempt from the new tariffs include certain critical minerals, metals used for currency and gold bars, energy and energy products; natural resources and fertilizers that cannot be grown, mined or otherwise produced in the United States, or that cannot be grown, mined or otherwise produced in the United States in quantities sufficient to meet domestic demand; certain agricultural products, pharmaceuticals and pharmaceutical ingredients, and certain electronic products; passenger cars, certain light trucks and certain aerospace products.
Meanwhile, the White House issued an executive order announcing the termination of certain tariff measures. In light of recent developments, the additional tariffs imposed under the International Emergency Economic Powers Act will no longer be in effect and will be discontinued as soon as practicable.
