President Trump signed an executive order exempting tariffs for some countries that have reached agreements
On September 5 local time, US President Donald Trump signed an executive order exempting trade partners that have reached agreements on industrial exports such as nickel, gold and other metals, as well as pharmaceutical and chemical compounds, effective from September 8.
President Trump’s latest executive order identifies 45 items exempted from import duties from “associated partners” that have signed framework agreements to reduce tariffs and “reciprocal” tariffs imposed by Trump under Section 232 of the National Security Act. The reductions include items that “cannot be grown, mined, or produced naturally in the United States” or produced in sufficient quantities to meet domestic demand.
The exempted items identified in the order include graphite and various forms of nickel, a key ingredient in the production of stainless steel and electric vehicle batteries. Compounds used in generic pharmaceuticals, including the anesthetic lidocaine and reagents used in medical diagnostic tests, are also mentioned.
The order also provides new exemptions for certain agricultural products, aircraft and parts, as well as non-patented items for use in pharmaceuticals, a White House official said.
The order brings US tariffs into line with commitments under existing framework agreements, including those with allies such as Japan and the European Union (EU).
In the order, President Trump said his willingness to reduce tariffs depends on "the scope and economic value of a trading partner's commitments to the United States in an agreement on reciprocal trade" and the national interest of the United States.
It is expected that the tariff exemption for countries with trade agreements with the US will begin at 12:01 a.m. on September 8./.
