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EO 14389Executive OrderTrump 47 · R

Executive Order 14389

Ending Certain Tariff Actions

This executive order terminates the additional ad valorem duties imposed under IEEPA across nine prior executive orders targeting Canada, Mexico, China, Venezuela, Brazil, Russia, Cuba, and Iran. The national emergencies underlying those orders remain in effect, and other duties (Section 232, Section 301) are unaffected. Agency heads must stop collecting these duties as soon as practicable.

Federal Register Open PDF 91 FR 9437

Impact dates

  1. Termination of duty collection as soon as practicable

  2. Agency heads must immediately begin taking steps to end IEEPA duties

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Steel & aluminumAutosOil & gasPharmaAgricultureTechnology & software

Mechanisms

Tariff

Role pressure

  • ProtectiveImporter — Removal of additional ad valorem duties reduces import costs and compliance burden
  • AdverseDomestic producer — Loss of tariff protection against competing imports from targeted countries
  • ProtectiveTrading-partner exporter — Restored market access to U.S. for goods previously subject to punitive IEEPA duties
  • ProtectiveDownstream manufacturer — Lower input costs for supply chains previously disrupted by country-specific tariffs

Geographies

USCNMXCA

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

AAAlcoaGOOGLAlphabetAAPLAppleADMArcher Daniels MidlandBGBungeCATCaterpillarCENXCentury AluminumLNGCheniere EnergyCVXChevronCLFCleveland-CliffsCOPConocoPhillipsCTVACortevaLLYEli LillyXOMExxon MobilFFordGEVGE VernovaGMGeneral MotorsHYMTFHyundai MotorQQQInvesco QQQ TrustJNJJohnson & JohnsonMRKMerckMETAMeta PlatformsMSFTMicrosoftNVSNovartis

Confidence: medium · Policy alerts

Key directives

  • Terminate additional ad valorem duties imposed under IEEPA in EO 14193, 14194, 14195, 14245, 14257, 14323, 14329, 14380, and 14382
  • Agency heads shall 'immediately begin taking steps' and terminate collection 'as soon as practicable'
  • Secretary of Commerce, Secretary of Homeland Security, and USTR shall determine and implement HTS modifications via Federal Register notice
  • National emergencies declared in the nine EOs remain in effect and unaffected

Who is ordered

Timeline

Immediate

  • Termination of additional ad valorem duties 'no longer in effect'
  • Agency heads directed to 'immediately begin taking steps' to end collection

Near term (90d)

  • Duty collection to cease 'as soon as practicable'
  • Potential HTS modifications via Federal Register notice by Commerce/DHS/USTR

Long term

  • National emergencies remain in place, preserving framework for future tariff actions
  • Other trade remedies (Section 232, Section 301) continue unaffected

Risks & tensions

  • Vague 'as soon as practicable' deadline creates implementation uncertainty for importers and CBP
  • Preservation of national emergencies allows rapid reimposition of tariffs without new legal predicate
  • Explicit carve-out for Section 232 and Section 301 duties means significant trade restrictions remain
  • HTS modification process may create temporary classification confusion during transition
  • Unaffected de minimis suspension and temporary import surcharge (Section 2(c)) create overlapping policy signals
Executive Order 14389: Ending Certain Tariff Actions · Executive Orders