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AI Summary: This is a policy document - specifically an Executive Order issued by President Donald J. Trump on April 2, 2025, establishing a new reciprocal tariff policy to address trade imbalances. This regulation creates a national emergency declaration regarding large and persistent U.S. goods trade deficits, and implements a new trade policy imposing a 10 percent additional ad valorem duty on all imports, with country-specific higher rates for certain trading partners. The order aims to rebalance global trade flows by addressing what the document describes as non-reciprocal trade practices, including disparate tariff rates and non-tariff barriers. Key provisions include applying duties that vary based on trading partners, exempting certain goods (like steel, aluminum, and automotive parts), and allowing for potential future modifications based on trading partners' responses. The regulation applies to goods entered for consumption starting April 5, 2025, with additional country-specific rates taking effect on April 9, 2025. The order seeks to protect U.S. manufacturing capacity, national security, and economic interests by creating economic incentives for more balanced international trade relationships, with duties that can be adjusted based on trading partners' actions and the overall impact on U.S. trade deficits and industrial base.