Donald Trump Plans Tariffs on 60 Countries, US Commerce Secretary Says
US President Donald Trump is firm on imposing reciprocal tariffs on 60 countries, according to US Commerce Secretary Howard Lutnick. Lutnick emphasized the need for countries to ease trade barriers for negotiations.
US President Donald Trump Stands Firm on Tariffs
Howard Lutnick, the US Commerce Secretary, revealed in an interview with CNN that President Donald Trump is not backing down from the reciprocal tariffs he declared on as many as 60 countries. Lutnick referred to this action as a "reordering of global trade" and stressed the importance of countries removing trade barriers for negotiations with the US.
No Room for Negotiation
When asked if there was any room for negotiation, Lutnick stated that President Trump is not relenting. However, he pointed out that countries could address their tariffs and non-tariff trade barriers to facilitate smoother trade relations.
Facing Non-Tariff Trade Barriers
Lutnick cited the example of US companies experiencing non-tariff trade barriers in foreign markets, such as restrictions on product origins. He highlighted the necessity for fair trade practices and emphasized Trump's commitment to making deals with countries that align with US interests.
Trump's Tariff Implementation
President Trump recently followed through on his promise to impose reciprocal tariffs on countries with high import duties. These tariffs, including a baseline rate of 10%, were announced as part of efforts to address trade imbalances with major partners like China, India, and Vietnam.