According to a new executive order announced by the White House on the 20th, the U.S. government will impose a 10% ad valorem tariff on goods imported into the United States starting at 12:01 a.m. Eastern Time on the 24th, with some goods eligible for exemption.
The executive order states that, due to the needs of the U.S. economy or to ensure that these tariffs can more effectively address the fundamental international payments issues facing the U.S., certain goods will not be subject to the temporary import tariffs. These include some critical minerals; metals for use in currency and gold or silver bars; energy products; certain natural resources and fertilizers; certain agricultural products such as beef, tomatoes, and oranges; pharmaceuticals and pharmaceutical ingredients; certain electronic goods; passenger vehicles, certain light trucks, certain medium and heavy vehicles, buses, as well as certain parts for passenger vehicles, light trucks, heavy vehicles, and buses; certain aerospace products; and documents, donated items, and accompanied baggage.
In addition, all items and components currently or in the future covered by Section 232; goods from Canada and Mexico that meet the provisions of the United States-Mexico-Canada Agreement (USMCA); and textile and apparel goods from the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) that are eligible for duty-free entry into the U.S.
The White House also issued another executive order reiterating the continued suspension of de minimis duty-free treatment for low-value goods, including those transported through the international postal system. These goods will also be subject to temporary import tariffs in accordance with Section 122.