The president suggested that a 10% baseline exemption is possible, but he said only countries that offer “exceptional” conditions may see the bailout.
President Donald Trump said Friday that the US will retain 10% tariffs on imports from almost all trading partners after the new trade agreement is signed.
“You’ll always have a baseline,” Trump told White House reporters on May 9.
Trump had kept the door open to the possibility of exemptions, but his broader message signalled that trading partners should expect a universal 10% collection as a fixture for US trade policy. “At some point, if someone is doing something special for us (if they do), we’ll see,” he said. “It’s always possible.”
White House spokesman Caroline Leavitt confirmed Friday that Trump intends to maintain tariff floors in most negotiations to reduce the trade deficit and promote domestic manufacturing.
Trump called the UK agreement a “low number” justified by US respectful treatment, and said that UK deals should not be seen as a template for future agreements.
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“Because (other countries) have a large trade surplus, some (fees) are much higher, and in many cases they didn’t treat us properly,” Trump said in his oval office on May 8th.
Much higher tariff rates include China, where Trump won a 145% levy in April, identifying the country as having a massive trade barrier to the US. The move has led Beijing to retaliate with 125% of its US products. Trade talks are taking place this weekend between Swiss Chinese and US officials.
Trump describes his tariff policy as part of a broader strategy to resail global trade in favor of US workers and producers. He has repeatedly said he wants to negotiate bilateral deals with other countries and address what he says is an unfair trade deal that puts the United States at a disadvantage.
“Following the agreement with @Potus with the UK last Thursday, we are optimistic about the speed of these negotiations,” Bessent said in the post. “Swiss companies are interested in investing in new US investments of 150-20 billion ($18-24 billion) thanks to President Trump’s policies. We look forward to continuing consultations.”
Currently, dozens of state-owned countries are undergoing active trade talks with the United States following Trump’s tariff announcement on April 2.
