Lutnick says the best any country can do is a 10% US tariff

US Commerce Secretary Lutnick on CNBC:

  • if a country opens its markets the best it can hope for is a 10% US tariff
    • “The 10% baseline is for countries that have balanced budget with us, that are the best, and those who had trade deficits are going to have a higher tariff. The best they can do is 10% — most likely they’ll be higher.”
  • Deescalation with China is Bessent’s goal in talks
  • says favours Trumps plan for raising the tax rate on high earners

WH Trade Adviser Navarro says:

  • US is not getting rid of the tariffs on steel and aluminium

more to come

This article was written by Eamonn Sheridan at www.forexlive.com.