Donald Trump says US will likely set global tariff rate at 15% to 20%
United States President Donald Trump on Monday said he would likely introduce a global baseline tariff between 15% and 20% for countries that have not negotiated separate trade agreements with Washington.
“For the world, I would say it’ll be somewhere in the 15% to 20% range,” Trump told reporters alongside United Kingdom Prime Minister Keir Starmer in Scotland. “Probably one of those two numbers.”
He added that Washington would soon notify about 200 countries of their new “world tariff” rate.
The range is a significant increase from the 10% baseline tariff that Trump had announced in April.
The announcement comes amid negotiations between the US and countries seeking lower tariffs, including India, ahead of the August 1 deadline set by Trump to conclude trade talks.
“We’re going to be setting a tariff for essentially the rest of the world,” the US president said on Monday. “And that’s what they’re going to pay if they want to do business in the United States. Because you can’t sit down and make 200 deals.”
Trump’s so-called reciprocal tariffs had taken effect on April 9. Hours later, however, he reduced the rates on imports from most countries to 10% for 90 days to provide time for trade negotiations.
In February, Washington had already imposed a 25% tariff on a range of products from Canada, Mexico and China.
The US president had...
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