Clarifying the latest US tariff policy: suspension of reciprocal measures in most economies, 10% and industry tariffs

In the early hours of Thursday morning Beijing time, US President Donald Trump suspended the full reciprocal tariffs that had taken effect on April 9. The suspension period is now 90 days to allow for trade negotiations, but he still maintained the 10% benchmark tariff on all goods entering the United States worldwide (which has been in effect since April 5), and continued to impose tariffs on specific industries, while hinting that more may be imposed in the future. As a result, dozens of trading partners were temporarily able to avoid the high tariffs of 11% to 50% that Trump announced last week. For now, the 25% steel and aluminum tariffs that took effect on March 12 and the 25% auto and parts tariffs that took effect on April 2 are still in effect. US-Mexico-Canada-compliant auto parts will remain tariff-free until US Customs and Border Protection "establishes a process to impose tariffs on their non-US products". In addition, Trump said on Tuesday that major tariffs on medicines were coming.