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US Treasury Secretary Scott Bessent announced that the United States will impose a minimum 10% reciprocal tariff on approximately 100 countries. This measure will take effect following the expiration of President Trump's 90-day tariff pause on July 9. The tariffs will apply even to countries currently engaged in trade negotiations with the US in good faith. For countries whose existing tariffs exceed 10%, the Treasury will send letters detailing higher tariff levels. Additionally, Bessent indicated his readiness to replace Federal Reserve Chair Jerome Powell if requested by President Trump.
*BESSENT: US TO IMPOSE 10% TARIFFS ON ~100 COUNTRIES, SAYS TREASURY SECY SCOTT BESSENT; APPLIES EVEN TO THOSE NEGOTIATING TRADE IN GOOD FAITH. *BESSENT: SAYS HE’S PREPARED TO REPLACE FED CHAIR JEROME POWELL IF PRESIDENT TRUMP REQUESTS IT.
🚨 TRADE WAR: 🇺🇸 Tsy Sec Bessent says US will impose 10% tariffs on around 100 countries, even to those negotiating in 'good faith.' Countries tariffed higher than 10% will be notified by letter going into July 9th deadline.
JUST IN: The US is to impose 10% tariffs on around 100 countries, including those in trade negotiations, per Treasury Secretary Scott Bessent
