Reference Message Network reported on April 16 that Agence France-Presse reported on April 14 that the United States is still making the global economy fluctuate: the Trump administration took the first step towards imposing tariffs on medicines and semiconductors on Monday, but just 72 hours ago, it had suspended the tariff increase on electronics.
The U.S. Department of Commerce has launched an investigation to determine whether the large-scale import of pharmaceutical products and semiconductor products poses a risk to U.S. national security.
It is based on the results of such investigations that Trump was able to impose 25% industry tariffs on steel, aluminum, and automobiles.
In the evening, Washington also announced the termination of the agreement for duty-free imports of tomatoes from Mexico. Tomatoes imported from Mexico account for more than 90% of U.S. tomato imports, and these tomatoes will be subject to nearly 21% tariffs starting mid-July.
Last Friday, the market just breathed a sigh of relief after learning that the exemption from additional tariffs on major electronics imports from China would be extended, but now Washington has announced new tax measures.
U.S. Commerce Secretary Howard Lutnick said last Sunday that these industry tariffs "are likely to be implemented within one or two months."
Trump showed willingness to negotiate for a compromise on Monday. He said he was prepared to "see how we can help automobile manufacturers" and claimed he did not want to "harm anyone."
According to a report by The Associated Press on April 14, President Trump said on Monday that he might temporarily exempt the previously imposed tariffs on the auto industry to give automakers time to adjust their supply chains.
"I am considering taking measures to help some car companies deal with this issue," the Republican president said. He mentioned that automakers need time to relocate production lines from places like Canada and Mexico back to the U.S. He added, "They need a little time because they will be producing domestically, but they still need time. So, I am considering such arrangements."
On April 2, Trump signed an executive order at the White House regarding so-called "reciprocal tariffs," announcing that the U.S. would impose a "minimum base tariff" of 10% on trade partners and impose higher tariffs on certain trade partners. (Photo by Hu Yousong)
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