US Treasury Secretary Bessent Sets 10% Tariff for 100 Smaller Countries, Focuses on 18 Driving 95% Trade Deficit

US Treasury Secretary Bessent announced that the United States will apply a fixed tariff rate to approximately 100 smaller countries, many of which have not engaged in prior communication with the US government. This tariff measure is part of a broader strategy that prioritizes 18 countries responsible for 95% of the US trade deficit. The fixed tariff rate for these smaller trading partners is reported to be set at 10%. This approach reflects a targeted effort by the Treasury to address trade imbalances by focusing on major contributors to the deficit while establishing standard tariffs for less significant trading partners.