The White House announces the effective date of temporary import tariffs and the scope of exemptions

On February 20th, local time, the White House issued a statement indicating that President Trump signed an announcement that day to impose temporary import tariffs. Trump cited the authority granted by Section 122 of the Trade Act of 1974, which authorizes the president to address certain fundamental international payment issues through surcharges and other special import restrictions. The announcement stipulates a 10% ad valorem import duty on goods imported into the United States for a period of 150 days. This temporary import tariff will take effect on February 24th Eastern Time.

For reasons related to the U.S. economy or to ensure that the tariff more effectively addresses the fundamental international payment issues faced by the United States, some goods will be exempt from this temporary import tariff. These include: certain key minerals, metals used for currency and gold and silver bars, energy and energy products; natural resources and fertilizers that cannot be grown, mined, or otherwise produced in the U.S., or cannot be grown, mined, or otherwise produced in sufficient quantities to meet domestic demand; certain agricultural products, including beef, tomatoes, and oranges; pharmaceuticals and drug ingredients; certain electronic products; passenger cars, some light trucks, certain medium and heavy vehicles, buses, and certain components of passenger cars, light trucks, heavy vehicles, and buses; some aerospace products, as well as informational materials (such as books), donated items, and carry-on luggage.

Additionally, some goods are not subject to the temporary import tariff, including all items currently or in the future covered by Section 232 and their components, goods from Canada and Mexico that comply with the USMCA, and textiles and apparel that are duty-free imports under the Dominican Republic-Central America Free Trade Agreement, such as those originating from Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, or Nicaragua. (CCTV News)