The president of the United States, Donald Trump, signed an executive order that offers some tariff exemptions as soon as on Monday to commercial partners who achieve industrial export agreements such as Nickel, Gold and other metals, as well as compounds and pharmaceutical chemicals.
Trump has passed its first seven months in the construction of massive fees increases to reorder the global commercial system, reduce commercial deficits in the United States and extract concessions from commercial partner countries in negotiations.
His last order identifies more than 45 categories for zero import rates of “aligned partners” obtained from the PACT of Marco to reduce tariffs and “reciprocal” tariffs of Trump taxes under the National Security Statute of Section 232.
Friday’s order ceases that American tariffs are in line with their commitments in existing frame agreements, including those with allies such as Japan and the European Union.
Exemptions for countries with US trade agreements will begin at 12:01 am EDT/0401 GMT on Monday, he said.
Pakistan is also among the countries that have signed trade agreements with the United States. Islamabad successfully negotiated a reduction in reciprocal rates, from 29 percent to 19 percent, after the two nations concluded a commercial agreement in July.
This was after Trump announced that the United States had concluded an agreement with Islamabad that would allow the two allies to work together in the development of Pakistan’s vast oil reserves.
However, it is not yet clear if Pakistan would benefit from Trump’s last order or not.
In order, Trump says that his willingness to reduce tariffs depends on the “scope and economic value of the commitments of a commercial partner with the United States in his agreement on reciprocal trade” and the national interests of the United States.
The cuts cover the elements that “cannot be cultivated, extracted or naturally produced in the United States” or produced in sufficient volume to meet domestic demand.
A White House officer said that he also creates new workshops for some agricultural products, aircraft and parts, and unpaid articles for use in pharmaceutical products.
In situations where a country has reached a “reciprocal” commercial agreement with the United States, this will allow the United States commercial representative, the Department of Commerce and Customs to renounce tariffs on covered imports without a new executive order of Trump, said the official.
The zero rate elements identified in the order include graphite and several forms of nickel, a key ingredient in the manufacture of stainless steel and electric vehicle batteries.
Compounds used in generic pharmaceutical products are also covered, including anesthetic lidocaine and reagents used in medical diagnostic tests.
The order covers several types of gold imports, from powders and leaf to bullion, a key import of Switzerland, which is struggling with US 39 percent tariffs, since it has not yet reached a commercial agreement.
The order also allows tariffs to be eliminated from natural graphite, neodymium magnets, light emitting diodes (LED) and eliminates exemptions from previous rates on certain plastics and polysilicio, a key component of solar panels.
