Modifying Duties Addressing the Synthetic Opioid Supply Chain in the People's Republic of China

Executive orderTariff cut or exemptionSigned 25/11/04Federal Register 25/11/07Executive Order 14357Open the original

Summary

President Trump reduces the additional ad valorem rate of duty on articles that are products of the PRC from 20 percent to 10 percent. The change applies on or after 12:01 a.m. eastern standard time on November 10, 2025.

By industry

Tariffs & Reshoring1 trading day−2.9%p15 stocks5 trading days−2.0%p15 stocks20 trading days+2.7%p15 stocks
“reducing the additional ad valorem rate of duty applicable under Executive Order 14195, as amended, to 10 percent”

Day by day after the announcement

Tariffs & Reshoring stocks and the S&P 500 after the announcement, cumulative %
Day	Tariffs & Reshoring stocks	S&P 500
25/11/03	0.0%	0.0%
25/11/04	−4.0%	−1.1%
25/11/05	−2.7%	−0.7%
25/11/06	−3.8%	−1.6%
25/11/07	−2.0%	−1.6%
25/11/10	−2.2%	−0.2%
25/11/11	−4.0%	+0.1%
25/11/12	−1.0%	+0.1%
25/11/13	−2.9%	−1.5%
25/11/14	−2.7%	−1.4%
25/11/17	−4.2%	−2.4%
25/11/18	−4.5%	−3.4%
25/11/19	−3.9%	−2.4%
25/11/20	−5.7%	−4.5%
25/11/21	−3.2%	−3.4%
25/11/24	−1.4%	−1.9%
25/11/25	+1.2%	−1.1%
25/11/26	+2.5%	−0.4%
25/11/28	+2.6%	+0.1%
25/12/01	+2.8%	−0.4%
25/12/02	+2.6%	−0.1%

Korean stocks in these industries

Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Glencore International10% Owner
SellCentury Aluminum
Sell
Century Aluminum
CENX
$272.3M
9,000,000 sh
$272.3M
Filed 25/11/13
Traded 25/11/10
John R. McPhersonDirector
BuyCommercial Metals
Buy
Commercial Metals
CMC
$99.5K
1,712 sh
$99.5K
Filed 25/10/21
Traded 25/10/20
Phillip Michael HardestySVP
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$60.9K
9,168 sh
$60.9K
Filed 25/11/12
Traded 25/11/07
Ralph M. Della Ratta Jr.Director
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$50K
7,288 sh
$50K
Filed 25/11/07
Traded 25/11/06
Phillip Michael HardestySVP
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$13.5K
2,032 sh
$13.5K
Filed 25/11/12
Traded 25/11/07
Phillip Michael HardestySVP
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$5,304
800 sh
$5,304
Filed 25/11/12
Traded 25/11/07
John R. McPhersonDirector
BuyCommercial Metals
Buy
Commercial Metals
CMC
$587
10 sh
$587
Filed 25/10/21
Traded 25/10/20
Karla R. LewisPresident, CEO
SellReliance
Sell
Reliance
RS
$1.1M
3,775 sh
$1.1M
Filed 25/12/02
Traded 25/12/01
Karla R. LewisPresident, CEO
SellReliance
Sell
Reliance
RS
$577.4K
2,034 sh
$577.4K
Filed 25/12/02
Traded 25/12/01
Robert S. WetherbeeExecutive Chairman
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.7M
26,998 sh
$2.7M
Filed 25/11/20
Traded 25/11/18
Robert S. WetherbeeExecutive Chairman
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.4M
24,711 sh
$2.4M
Filed 25/11/20
Traded 25/11/18
Kimberly A. FieldsPresident, CEO and Director
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$1.8M
21,153 sh
$1.8M
Filed 25/10/16
Traded 25/10/15
Stephen D. LaxtonCFO and EVP
SellNucor
Sell
Nucor
NUE
$163.9K
1,082 sh
$163.9K
Filed 25/11/03
Traded 25/10/30
Allen C. BehrEVP
SellNucor
Sell
Nucor
NUE
$1.4M
9,042 sh
$1.4M
Filed 25/11/03
Traded 25/10/30
Miguel AlvarezSVP
SellSteel Dynamics
Sell
Steel Dynamics
STLD
$1.3M
8,251 sh
$1.3M
Filed 25/10/30
Traded 25/10/29
Elizabeth A. SocciVP, Contr & Ch Acctg Officer
SellCarpenter Technology
Sell
Carpenter Technology
CRS
$1.3M
3,900 sh
$1.3M
Filed 25/12/01
Traded 25/11/26
Blain TiffanyEVP - Sales & Marketing
SellKaiser Aluminum
Sell
Kaiser Aluminum
KALU
$813K
8,656 sh
$813K
Filed 25/11/10
Traded 25/11/07
Robert S. WetherbeeExecutive Chairman
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$805.9K
8,291 sh
$805.9K
Filed 25/11/20
Traded 25/11/18
Stephen D. LaxtonCFO and EVP
SellNucor
Sell
Nucor
NUE
$77.4K
510 sh
$77.4K
Filed 25/11/03
Traded 25/10/30
John J. HollatzEVP
SellNucor
Sell
Nucor
NUE
$749.3K
5,000 sh
$749.3K
Filed 25/11/14
Traded 25/11/12