At this point, I don't think anyone should take anything from the Trump administration at face value but what Kevin Hassett said today is a problem for the US and the global economy.
Hassett was on CNBC earlier today and said that the expectation is for the 10% universal baseline tariff to remain in place over the long term. “It would take some kind of extraordinary deal to go below there,” he said.
That's the kind of thing that begs for retaliation and ensures dislocations in international trade. Now this is obviously better than some of the 'reciprocal but not reciprocal' levels but it's also a miscalculation to think that other countries will roll over and accept it, particularly not in the long term.
The US may think that by threatening higher tariffs and then backing down (escalate to de-escalate) that it will get away with these rates but I don't think that's the case. Again, I'm not putting a huge weight on what Hassett is saying here but with just a 90-day window, it won't be too long before we find out.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about a 10 floor on tariffs is a problem was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( A 10% floor on tariffs is a problem )
Also on site :
- Samsung Plans to Bring Google Photos to Samsung AI TV Lineup, Helping Users Relive Their Favorite Memories on the Big Screen
- Arrowhead Stadium Worker Reveals 'Beautifully Kind' Gesture From Taylor Swift During Chiefs' Christmas Day Game
- Luxury goods were once built to last. Now, some fall apart as easily as fast fashion