ExecutiveOrdersEO
Proc 11038ProclamationTrump 47 · R Quiet signal

Proclamation 11038

Declaration of Emergency and Authorization for Temporary Duty-Free Importation of Phosphate Fertilizer From Morocco

President Trump declares an emergency under Section 318 of the Tariff Act of 1930 to authorize temporary duty-free importation of phosphate fertilizer from Morocco for up to 8 months, citing disruptions to global fertilizer supply chains and insufficient domestic production to meet agricultural demand during the upcoming planting season.

Federal Register Open PDF 91 FR 40855

Impact dates

  1. Duty-free importation period expires (8 months from proclamation date)

Market exposure

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

Sectors

AgricultureChemicalsShipping & logistics

Mechanisms

TariffBan / prohibition

Role pressure

  • ProtectiveImporter — Duty-free access for Moroccan phosphate fertilizers reduces import costs and removes tariff/deposit burdens under trade remedy laws
  • AdverseDomestic producer — US phosphate fertilizer manufacturers face price competition from duty-free Moroccan imports during critical demand period
  • ProtectiveDownstream manufacturer — Farmers and agricultural operations benefit from lower input costs and assured supply during planting season
  • ProtectiveTrading-partner exporter — Moroccan phosphate producers gain preferential market access and competitive advantage over other foreign suppliers

Geographies

US

Exposure dates

  • — Duty-free importation period expires (8 months from proclamation date)

Illustrative public companies

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

MMM3MALBAlbemarleADMArcher Daniels MidlandBASFYBASFBGBungeCATCaterpillarLNGCheniere EnergyCTVACortevaDACDanaosDOWDowDDDuPontFDXFedExLYBLyondellBasellMATXMatsonSQMSQMTSNTyson FoodsUPSUPSZTOZTO Express

Confidence: high · Policy alerts

Key directives

  • Secretary of Treasury and Secretary of Commerce to permit duty-free importation of Moroccan phosphate fertilizers until earlier of 8 months or emergency termination
  • Secretaries to consult with Secretary of Homeland Security before taking action
  • Secretaries to monitor and review emergency circumstances and inform President of need for further action
  • Secretary of Treasury or Commerce to report actions to Congress
  • Supersede inconsistent prior proclamations and Executive Orders

Who is ordered

Timeline

Immediate

  • Emergency declaration takes effect
  • Duty-free importation authority invoked for Treasury and Commerce Secretaries

Near term (90d)

  • Fall planting season demand surge
  • Monitoring and review of emergency circumstances by Treasury and Commerce

Long term

  • Expiration of duty-free period by February 2027 unless emergency terminated earlier
  • Potential expansion of domestic fertilizer manufacturing capacity

Risks & tensions

  • Temporary relief may delay domestic fertilizer manufacturing investment if extended repeatedly
  • Morocco dependency creates single-source vulnerability despite diversification rhetoric
  • Trade actions by 'major fertilizer-producing countries' referenced but unspecified—uncertainty about retaliatory dynamics
  • Domestic fertilizer producers face competitive pressure from duty-free Moroccan imports during 8-month window
  • Emergency declaration under Section 318 typically for disaster relief; stretching to agricultural supply stability may invite legal challenge
Proclamation 11038: Declaration of Emergency and Authorization for Temporary Duty-Free Importation of Phosphate Fertilizer From Morocco · Executive Orders