Trump's week in review: Tariffs paused; sanctuary cities in crosshairs; religious freedom nominee named
2. Modifies tariffs
The White House published an executive order Wednesday titled “Modifying Reciprocal Tariff Rates to Reflect Trading Partner Retaliation and Alignment.”
The order came exactly one week after Trump’s previous executive order instituting tariffs on a long list of countries, which resulted in immediate declines in the stock market.
While the tariffs began with an “additional ad valorem duty” of 10% on goods from affected countries effective April 5, country-specific tariff rates as high as 50% took effect Wednesday.
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The modifications in Wednesday’s order come after more than 75 foreign countries and trading partners “have approached the United States to address the lack of trade reciprocity in our economic relationships and our resulting national and economic security concerns.” In light of this development, the executive order instituted a 90-day pause on the higher tariffs and reverted to an “additional ad valorem duty” of 10% on affected countries.
One country not subject to the pause in higher tariffs is China. In an executive order published Tuesday, Trump announced that in response to retaliatory tariffs from China, he was increasing the tariff on goods coming to the U.S. from China from 34% to 84% effective Wednesday. He modified Tuesday’s executive order in Wednesday’s executive order, increasing the tariffs from 84% to 125%. In response, China has raised tariffs on U.S. goods to 125%.
Ryan Foley is a reporter for The Christian Post. He can be reached at: ryan.foley@christianpost.com
