<h1>President announces unilateral tariff cut to 47% and one-year pause on export controls, raising legal and compliance uncertainty</h1> Following a bilateral summit, the US President announced an immediate unilateral reduction in average tariffs on imports from the other country from 57% to 47% and reported a one-year suspension of tightened export controls on rare earths and related technologies; there is no official confirmation from the other government. Legally, the tariff cut alters customs duties and compliance obligations effective immediately, may trigger challenges under domestic trade statutes or WTO procedures, and raises questions about the binding nature and enforceability of the export-control pause. Concurrent central bank and monetary adjustments contributed to market volatility and regulatory scrutiny.