Donald Trump tariffs: Does Donald Trump plan to extend tariff pauses? U.S. President reveals when higher tariffs can be reimbursed
Speaking at a cabinet meeting Thursday, Trump said higher tariffs would be reimbursed if no agreements were negotiated for both sides.
As cited in a Forbes report, Trump questioned when he questioned whether the suspension could surpass the initial 90-day period, “We have to see what happens.”
The president stressed that trade deals must be beneficial to both parties or tariffs will return to their previous levels.
He also hinted that despite the suspension, the 10% benchmark tariff that still applies may be open to negotiations.
“It depends on what they add,” Trump added. This means that the U.S. trade deficit with certain countries will be a factor in determining tariffs.
Selective exemption is under consideration
Asked if countries or companies can exempt tariffs, Trump said: “It’s possible,” but went on to say there was no such conversation.
Whether his comment can be opened, whether or not he can make concessions.
The president’s remarks came after he was surprised to reverse the thorough tariff hike, which was announced just hours after they took effect.
The move to suspend the new interest rate was feared for global market instability, especially the huge sell-off in the bond market. “The bond market is very tricky … people are getting a little uncomfortable,” Trump said.
Global trading partners seek clarity
It is said that more than 75 countries have engaged in renegotiated deals with the White House since Trump suddenly changed his tariff stance.
President Trump’s economic adviser Kevin Hassett went on to mention that proposals for at least 15 countries are already underway.
The government’s ever-changing policies have put companies and foreign trade partners in doubt about the long-term trajectory of U.S. trade policy.
Although tariff probation has temporarily calmed the market nerves, there are concerns about the possibility of a sudden policy shift.
Retained tariffs
Even if the suspension was suspended, many tariffs did not change. The 10% initial tariff that came into effect on Saturday remains.
In addition, the 25% charge of global auto imports filed in April has not been removed, and the steel and aluminum tariffs have not been lifted in March.
Tariffs on Mexican and Canadian products also comply with tariffs outside the US-Mexico-Canada Agreement. However, China is a significant exception to tariff pauses, with Beijing imposing an 84% levy on U.S. imports prompting the Trump administration to retaliate against tariffs on Chinese imports in 145%.
FAQ
What is the current status of the 90 tariff suspension?
The U.S. government has temporarily suspended certain tariffs but is discussing its reimposed discussions.
Why did Trump initially impose these tariffs?
Trump’s administration uses tariffs as a key trade policy tool to address economic imbalances, protect domestic industries and reach better trade agreements with foreign countries.
