10 Jul 2025
⚖️Executive Order 14316 Expands Suspension of Tariff Rates
Extending the Modification of the Reciprocal Tariff Rates
Summary
Executive Order 14316 addresses trade disparities by extending the suspension of reciprocal tariff rates until August 1, 2025. It outlines the government's authority to modify tariff schedules in response to trading partner actions and emphasizes national security and economic stability concerns due to trade deficits.
Agencies
- Executive Office of the President
Business Impact
$$$ - High
The executive order extends suspension of certain tariff duties, impacting trade costs for importers and exporters. Businesses interacting with foreign trading partners, particularly in sensitive sectors, must consider potential changes in duty rates and compliance requirements during the suspension period.