Trump Raises Base Tariff Rate from 10% to 15%
According to the English section of webangah News Agency, citing Mehr News Agency and Bloomberg, U.S.President Donald Trump stated that America’s so-called reciprocal tariffs against other countries will not fall below 15 percent, signaling an increase in the base tariff from 10 to 15 percent.
Speaking at a conference on artificial intelligence in Washington, Trump said: “We will have a straightforward tariff ranging from 15 to 50 percent. For several countries,it will be 50 percent as we haven’t reached favorable agreements with them.”
Trump’s remarks indicate that tariffs will start at a minimum of 15 percent and suggest the president intends to impose stricter duties on exports from countries outside the small group that have so far secured deals with Washington.
Earlier this month, Trump mentioned over 150 countries would receive letters indicating potential tariff rates of “10 to 15 percent,” later adding that “we have not decided on the exact rate yet.”
On Tuesday, following an agreement with Japan, the president backed down from his earlier threat by reducing Japan’s tariff rate from 25 to 15 percent.
Yesterday he added that “for some countries there will be very simple tariffs because many nations cannot reach agreements,” noting ongoing “serious” negotiations with the European Union. He said if they open their markets to American businesses, lower tariffs would follow.
