Trump’s tariff threat continues; 15-20% tariffs on non-dealers

 

 

US President Donald Trump said on Monday that he would impose a full tariff of 15 percent to 20 percent on imports from countries that do not have separate trade agreements with Washington.

“I would say to the world, it’s going to be 15 percent to 20 percent. I want to be good,” Trump said alongside UK Prime Minister Keir Starmer in Turnberry, Scotland. Trump’s remarks take on significance as they mark an increase from the 10 percent base tariff announced by the US president in April. It could also put economic pressure on smaller countries that had been expecting the tariff rate to be 10 percent.

Earlier this month, Commerce Secretary Howard Lutnick said that smaller countries, including “Latin American countries, Caribbean countries, and a number of countries in Africa,” would have a 10 percent base tariff, CNBC reported.