Further Modifying The Reciprocal Tariff Rates
The President, by authority under various U.S. laws, declares a national emergency related to persistent U.S. goods trade deficits, viewing them as a threat to national security and the economy.
Additional duties on certain goods from specific trading partners are imposed to address these trade deficits; these apply alongside provisions of Executive Order 14257.
Key Points of the Order:
- Modification of Harmonized Tariff Schedule (HTSUS): Changes to the HTSUS will take effect for goods entered after a specified time frame.
- Duties for European Union Goods: Additional duties for EU goods are defined based on their current tariff rates, with a minimum combined duty of 15%.
- General Additional Duties: Goods from partners not listed will incur a 10% additional duty.
- Penalties for Circumvention: Goods determined to be transshipped to evade applicable duties will face a 40% duty plus additional fines.
The Secretary of Commerce and the U.S. Trade Representative will monitor trade relationships and advise the President on further actions needed to address the emergency.
A consortium of senior officials is tasked with implementing, modifying, and advising on the order's measures to ensure compliance and enforcement.
Provisions for potential future actions include adapting to foreign partners' steps in trade negotiations.
The order asserts that if any aspect is found invalid, it does not affect the remaining provisions.
The order does not create any enforceable rights for parties against the U.S. government.