President Donald Trump’s trade policies underwent many iterations in the last month, but its 10% reference rate on almost all countries is there to stay, said the White House.
“The president is attached to the reference rate of 10% – not only for the United Kingdom, but also for its commercial negotiations with all the other countries,” said the press secretary of the White House, Karoline Leavitt, to journalists during a Friday briefing.
When asked if it would be permanent, Leavitt replied: “The president is determined to continue this reference rate of 10%. I just talked to him earlier.”
Since they were announced for the first time on April 2, Trump’s radical prices – including a reference rate of 10% and significantly higher prices on certain countries – have disrupted the markets, has been ravaged on the supply chain and worried the world leaders. Trump’s subsequent measures to increase the rate on China to 145%, suspend many specific prices in the country for 90 days, and exempting certain electronic products from prices have left companies concerned with an uncertain economic future with a distinct feeling of a boost.
Earlier this week, Trump categorically said “no” when he was asked if he was planning to reduce his prices on China to help facilitate trade discussions this weekend between duels superpowers.
But on Friday, Trump seemed to contradict himself, suggesting in a social post of truth that the Chinese price could be lowered to 80%. He also recently declared that the 145% The price on China is “very high” And could “descend considerably”.
Trump made his first commercial announcement with the United Kingdom on Thursday. The agreement plan includes the drop in prices on British car and metal exports, but to keep a 10% rate on most goods.
The Trump administration said it was involved in dozens of commercial negotiations to conclude tailor -made agreements for each country that comes to the table, but Leavitt’s comments indicate on Friday that the 10% price will remain in place in all areas.