President Donald Trump announced that they are doing well in tariff policies and advancing rapidly. Trump shared his thoughts on the matter on his Truth Social account. Emphasizing the progress in tariff policies, Trump used the expression, “Very exciting for America and the world. Progressing quickly.” President Trump had announced various customs duties for different countries and sectors since returning to office in January. Most recently, last week Trump disclosed reciprocal tariffs ranging from 10% to 50% set for each country, stating that additional tariffs for countries that do not reciprocate would be halted for 90 days with a 10% basic tariff applied during this period. Moreover, for China responding with retaliatory tariffs, Trump had increased the “reciprocal” tariff rate to 125%. This brought the effective tariff rates, including those applied due to the fentanyl crisis in China, to 145%. The current tariff rates imposed by the US are 25% for imports from Mexico and Canada outside of the USMCA agreement, 25% for the import of automobiles, steel, and aluminum, and 10% for imports from all other countries.