Trump to 0 tariffs on some imports: Here's the catch
Donald Trump just signed an executive order (kicking in as soon as Monday) that lets certain imports—like nickel, gold, metals, pharmaceuticals, and chemicals—from "aligned partners" skip US tariffs.
But there's a catch: those countries have to strike deals with the US to help shrink America's trade deficit.
The order lists over 45 categories
The order—called "Potential Tariff Adjustments for Aligned Partners" (PTAAP)—lists over 45 categories that could see zero tariffs if partners play fair.
Meanwhile, India faces a 25% tariff for buying Russian oil.
China gets a 20% tariff targeting synthetic opioid supply chains, while Mexican and Canadian imports are hit with 25% and 35% tariffs to crack down on illegal drug flow.
The White House says it's all about protecting US jobs and pushing for fairer trade deals.