Trump Trade War Diary — Day 7
trade-wars
trump-trade-war-diary
- Initial tariff would start at 2.5% and increase by 2.5% monthly - Could eventually reach 20% - Gradual approach aims to give businesses time to adjust and allow for negotiations - Trump wants “much bigger” tariffs than 2.5% - Trump threatened tariffs on…
FT reports that Trump’s Treasury secretary Scott Bessent came up with a proposal for implementing new universal tariffs on US imports.Key points:
- Initial tariff would start at 2.5% and increase by 2.5% monthly
- Could eventually reach 20%
- Gradual approach aims to give businesses time to adjust and allow for negotiations
- Trump wants “much bigger” tariffs than 2.5%
- Trump threatened tariffs on semiconductors, metals, and pharmaceuticals
- Internal debate continues between trade hawks and moderates in Trump’s team
The proposal comes amid market turmoil triggered by China’s apparent AI advancement and ongoing debates within Trump’s administration about trade policy implementation.