The White House announces the effective time and exemption scope of temporary import tariffs.

On February 20th local time, the White House in the United States issued a statement saying that President Trump had signed a proclamation that day, announcing the imposition of temporary import tariffs. Trump cited the authority granted by Section 122 of the 1974 Trade Act, which authorizes the President to address certain fundamental international payment problems through additional fees and other special import restrictions. The proclamation stipulates a 10% ad valorem import tariff on goods imported into the United States, lasting for 150 days. This temporary import tariff will take effect on February 24th Eastern Time in the United States. For the needs of the U.S. economy, or to ensure that the tariff can more effectively address the fundamental international payment issues facing the United States, some goods will not be subject to this temporary import tariff. These include certain key minerals, metals used for currency and bullion, energy and energy products; natural resources and fertilizers that cannot be grown, mined, or otherwise produced in the United States, or natural resources and fertilizers that 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, certain light trucks, certain medium and heavy-duty vehicles, buses, and certain components of passenger cars, light trucks, heavy vehicles, and buses; certain aerospace products, as well as information materials, donated items, and personal luggage. In addition, some goods are exempt from the temporary import tariff, including all items currently or in the future subject to Section 232 constraints and their components, goods from Canada and Mexico as defined by the US-Mexico-Canada Agreement, and textile and apparel products imported duty-free under the Dominican Republic-Central America Free Trade Agreement as Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, or Nicaragua. In another executive order, Trump reiterated and continued the suspension of duty-free benefits for low-value goods, which will also be subject to temporary import tariffs under Section 122. In addition to the measures taken that day, Trump also instructed the Office of the US Trade Representative to investigate certain unreasonable and discriminatory behaviors, policies, and practices using its authority under Section 301.