President Trump is intensifying his tariff campaign with sweeping executive actions reshaping international economics. Here’s what’s unfolding:
1. Major Executive Order Signed Today!
Trump signed a sweeping order granting tariff exemptions for countries that strike reciprocal trade agreements with the U.S. Starting Monday, over 45 categories—including industrial metals (nickel, gold), chemicals, and pharmaceutical compounds—may qualify for reduced or zero duties. However, some previously exempt items like particular plastics and polysilicon have now lost that protection.
2. Semiconductor Industry in the Crosshairs
Trump warned that “substantial” tariffs on semiconductor imports are imminent unless companies move production to the U.S. While no timeline or figures were shared, the message is clear: reshoring tech manufacturing is non-negotiable.
3. Tariff Truce with Japan—But Watch the Details
In a big twist, Japan secured tariff relief: auto imports to the U.S. will now face 15% duties, down from 27.5%, in exchange for $550 billion in U.S. investments plus boosted agricultural purchases. It's a calculated compromise—but raises eyebrows over potential long-term ripples.
4. Legal Storm Brewing: Courts Push Back
A federal appeals court and several lower courts have declared many of Trump’s sweeping tariffs illegal under the International Emergency Economic Powers Act (IEEPA), claiming the President overstepped his power. Nonetheless, the tariffs remain active pending Supreme Court review—adding legal uncertainty to an already volatile mix.
Meanwhile, Senate Democrats, led by Chuck Schumer, are gearing up to force votes to repeal Trump’s import tariffs amid rising job losses and a shaky economy.