
Trump signed an executive order to adjust the scope of import tariffs and implement trade and security framework agreements with foreign trade partners. The executive order stipulates that after reaching a framework agreement or final agreement with foreign trade partners, the U.S. can adjust tariffs based on the agreement, including reducing reciprocal tariffs on certain goods to zero. However, the tariff scope is usually not narrowed or tariffs related to Section 232 (steel and aluminum derivative tariffs) are modified before the final agreement is signed. Goods eligible for zero reciprocal tariffs include products that cannot be produced in the U.S. or whose production is insufficient to meet domestic demand, specific agricultural products, aircraft and parts, and generic items for pharmaceutical applications.
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