Donald Trump’s aggressive trade strikes: US President indicates he won’t go below 15% tariff price; ‘we’ll have a straight…’

Trump indicated earlier this month that he would ship letters to over 150 nations. (AI picture)

US President Donald Trump appears to have indicated that the 15% reciprocal tariff price could be the brand new baseline for many nations. “We’ll have a straight, simple tariff of anywhere between 15% and 50%,” Trump mentioned Wednesday at an AI summit in Washington in response to a Bloomberg report. “A couple of — we have 50 because we haven’t been getting along with those countries too well.“The US President indicated a minimal tariff price of 15% earlier than the August 1 deadline, signalling a rise within the baseline.Trump indicated earlier this month that he would ship letters to over 150 nations, proposing a tariff price of “probably 10 or 15%, we haven’t decided yet.”Also Read | Trump tariff battle: Deal or no deal – why it won’t matter a lot for India

Donald Trump’s Aggressive Trade Strategy

According to the report, Trump’s announcement of a 15% beginning price marked a new improvement in his technique to implement duties on nearly all US trade companions. It additionally demonstrated Trump’s intention to implement stricter levies on exports from nations that have not but established trade agreements with Washington.Despite preliminary indications from Trump and his crew about pursuing a number of agreements, Trump has now indicated that the tariff letters themselves are accomplished “deals”. The US President seems reluctant to have interaction in in depth negotiations. Nevertheless, he maintains that nations have the chance to succeed in agreements that would lead to lowered charges.Also Read | ‘Always, zero tariffs to…’: Donald Trump says US keen to decrease tariff charges for main nations – this situation must be fulfilledOn Tuesday, Trump introduced a take care of Japan with a discount within the proposed tariff on Japan from 25% to fifteen%. This is conditional upon Japan eliminating limitations on sure US items and supporting a $550 billion funding fund. Meanwhile, different nations, together with South Korea, India, and EU member states, proceed their efforts to succeed in an accord earlier than the elevated tariffs change into efficient.On Wednesday, Trump indicated his intention to implement a simple tariff system for sure nations, citing the impracticality of negotiating particular person agreements with quite a few nations. He famous that discussions with the European Union had been progressing significantly.“If they agree to open up the union to American businesses, then we will let them pay a lower tariff,” Trump mentioned.On Sunday, Commerce Secretary Howard Lutnick knowledgeable CBS News that smaller nations, together with “the Latin American countries, the Caribbean countries, many countries in Africa” would face a baseline tariff of 10%. When Trump first introduced these tariffs in April, he launched a uniform 10% tariff relevant to virtually each nation.Also Read | ‘Aggressive US pressure can force…’: GTRI warns India in opposition to one-sided trade deal; says don’t fall into identical lure’ as Indonesia