Clarifying the latest tariff policy of the United States: suspension of reciprocal measures for most economies, and the 10% and sector-specific tariffs still need to be imposed.

[Clarifying the Latest U.S. Tariff Policy: Suspension of Countermeasures for Most Economies, 10% and Industry Tariffs Still to Be Imposed] In the early hours of Thursday Beijing time, U.S. President Trump halted the comprehensive reciprocal tariffs that took effect on April 9, suspending them for 90 days for trade negotiations, but still retaining the Benchmark tariff of 10% on all goods entering the U.S. globally (which took effect on April 5), and continuing to impose tariffs on specific industries, while hinting at the possibility of imposing more in the future. As a result, dozens of trading partner countries can temporarily avoid the high tariffs of 11%-50% announced by Trump last week. Currently, the 25% steel and aluminum tariffs that took effect on March 12 and the 25% tariffs on automobiles and parts that took effect on April 2 remain in effect. Automotive parts that comply with the USMCA will continue to maintain a zero tariff until the U.S. Customs and Border Protection “establishes a process for imposing tariffs on its non-American products.” Additionally, Trump indicated on Tuesday that significant tariffs on pharmaceuticals are forthcoming.