Overview

• President Trump reversed steep tariffs less than 24 hours after they took effect, lowering some duties in response to severe market volatility.
• The United States is actively reviewing tariff agreement proposals from 15 countries, with several deals nearing completion.
• White House trade policy principals are meeting to prioritize agreements with strategically important nations in the coming weeks.
• The tariff reversal follows one of the most intense episodes of financial market instability since the early COVID-19 pandemic, erasing trillions in market value.
• Economic adviser Kevin Hassett indicated that the administration expects significant progress on trade deals within three to four weeks.