Commerce Secretary Howard Lutnick confirmed that the U.S. will maintain a 10% tariff rate as a baseline for the foreseeable future, with plans to negotiate on a country-by-country basis. This comes in the wake of President Trump's recent tariff imposition on various countries. The U.S. has established a new trade agreement with the UK, which includes exemptions for certain British products, suggesting a strategic, flexible approach to trade relations. Ongoing discussions are also aimed at resetting trade relationships with China.
Under the new arrangement, the US maintains a 10% tariff rate while permitting exemptions for certain British products, demonstrating flexibility in trade policy.
Commerce Secretary Howard Lutnick emphasized that the US will not go below a 10% tariff rate, indicating a strategic approach to trade negotiations with individual countries.
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