Trump Signs Executive Order to Adjust Tariff Policy Scope

BlockBeats News, September 6th, according to a White House statement, U.S. President Trump signed an executive order to adjust the scope of import tariffs and implement trade and security framework agreements with foreign trading partners. The executive order stipulates that after reaching a framework agreement or final agreement with foreign trading partners, the U.S. may adjust tariffs based on the agreement, including reducing equivalent tariffs to zero for some goods. However, the tariff scope is usually not narrowed or the Section 232 tariffs (steel and aluminum derivative tariffs) modified before the final agreement is signed. Goods eligible for zero equivalent tariffs include products that cannot be produced in the U.S. or are produced in insufficient quantities to meet domestic demand, specific agricultural products, aircraft and parts, and non-patented items for pharmaceutical applications. (CCTV News)