Trump signs executive order to adjust the scope of tariff policy

On September 6, according to a White House statement, US President Donald Trump signed an executive order to adjust the scope of import tariffs and implement the Trade and Security Framework Agreement with foreign trading partners. The executive order stipulates that after reaching a framework agreement or a final agreement with a foreign trading partner, the United States can adjust the tariffs according to the content of the agreement, including reducing the reciprocal tariffs on some goods to zero, but the final agreement will not usually narrow the scope of tariffs or modify the relevant tariffs of Section 232 (steel and aluminum derivatives tariffs). Goods eligible for zero reciprocal tariffs include products that cannot be produced or produced in the United States that are not sufficient to meet domestic demand, certain agricultural products, aircraft and parts, and generic items for pharmaceutical applications. (CCTV News)