Trump Signs Executive Order Allowing Tariff Adjustments Under Trade Framework — USD Outlook as Some Goods Eligible for Zero Tariffs

According to a White House statement, President Trump signed an executive order to recalibrate the scope of U.S. tariffs and institute a trade and security framework with foreign partners. The measure permits tariff adjustments after reaching a framework or final agreement, including potential reductions to zero-equivalent tariffs for specific categories, while indicating that the overall tariff scope and existing Section 232 (steel and aluminum) measures typically remain unchanged until a final accord is executed. Goods eligible for zero-equivalent treatment are those not produced domestically at scale, certain agricultural products, aircraft and parts, and non-patented items for pharmaceutical applications.