Trump Signs Order on Reciprocal Tariffs, Possible Rate Reductions for ‘Aligned Partners’

President Donald Trump signed an executive order on Sept. 5 modifying the scope of reciprocal tariffs, including possible adjustments to tariffs on certain items for “aligned partners” that reach reciprocal trade and security deals with the United States. The order excludes certain items from the reciprocal tariffs announced in April. Trump stated that the move was necessary to “protect America’s economic and national security,” according to a White House fact sheet. The excluded items include bullion-related articles such as gold and silver, along with certain critical minerals and pharmaceutical products currently under Section 232 probes, which are being conducted to examine the national security implications of importing the products....