The President of the United States, Donald Trump, signed an executive order on Tuesday aimed at preventing the accumulation of tariffs on the same product. This measure is part of a strategy to reduce the tariffs that have affected his popularity since he returned to the White House a hundred days ago.
In the decree, Trump declared that tariffs should not accumulate on the same item as the resulting rate exceeds what is necessary to achieve the intended political objectives. The order establishes a procedure for determining which tariff will be applied to an item when it is subject to multiple levies.
Particularly, the order will benefit certain products from Canada and Mexico that have been affected by tariffs, especially to address the trafficking of illicit drugs at the northern border. Moreover, imports of aluminum and steel derivatives to the United States will be favored by this measure.
During a speech in Michigan for his hundred days in the second term, Trump announced an agreement with automobile manufacturers in the United States to reduce tariffs over the next two years. The president indicated that the intention is to help the automotive sector during a short transition and not penalize them if they have difficulties obtaining parts, applying these reductions to both domestic and foreign companies with factories in the United States, as long as the final assembly is conducted in the country.
