This week the President announced that the April 2, 2025, reciprocal tariffs imposed by the U.S. on dozens of countries will be paused for most of those countries, an announcement welcomed by United States stock exchanges and the global economy. It is clear that China will be an exception to this reprieve, with the President nearly simultaneously announcing a higher 125% tariff on most goods from China, effective immediately.
The Administration indicated that dozens of countries had been in contact to negotiate with the United States. While details are still forthcoming, we anticipate the following countries may be among those paused:
We note that most of these countries have had or were close to finalizing prior bilateral trade agreements with the United States. Further, with the recent positioning of a significant part of the United States B-1 stealth bomber fleet in Qatar, and Iran nuclear talks likely, the Administration may also want to maintain good relations with its strategic partner in Qatar, thereby making Qatar a viable candidate for the pause.
More will be known in the coming hours. As the situation evolves, having reliable legal counsel is key to helping navigate uncertainties.
**Panama remains an unknown, given the recent ongoing position of the Administration to securing concessions regarding the Panama Canal.
