#TariffsPause

It seems like you're asking about the current status of tariffs, specifically in relation to the "Liberation Day tariffs" announced by Donald Trump on April 2, 2025. Here's what's happening ¹ ²:

- *Tariff Implementation*: A 10% baseline tariff was applied universally to imports from all countries except Canada and Mexico, starting April 5, 2025. Additional country-specific tariffs, ranging from 11% to 50%, were scheduled to take effect on April 9 but were suspended for 90 days for all countries except China.

- *Current Tariff Status*: The 10% minimum tariff and the 25% sector-specific tariffs remain in effect. The tariffs have contributed to downgraded GDP growth projections and rising expectations of a recession.

- *Impact on Trade*: The tariffs aim to boost domestic production and create American jobs, but critics argue they'll lead to higher prices, larger deficits and greater inequality. Many countries have retaliated with their own tariffs, and global stock markets have responded negatively.

Some key details to note:

- *Affected Countries*: Over 100 trading partners are impacted, with China facing a significant tariff rate of 54% after April 9.

- *Exemptions*: Energy products and certain minerals not available in the US are exempt from the tariffs.

- *De Minimis Threshold*: The $800 threshold for duty-free imports from China was eliminated, effective May 2, with plans to eliminate it for other countries once administrative capacity is established.

Would you like more information on the implications of these tariffs or potential future developments?