US Treasury Secretary Besent: Reciprocal tariffs temporarily 10%

The US Treasury Secretary, Scott Besent, added more details about Trump’s sudden withdrawal from the generalized reciprocal tariff control of bond markets.

Tariffs against countries that have already “retaliated” against the US retaliation tariffs will be exempt from delay, which means that tariffs on Chinese products will remain in three -digit figures.

Key points

Increasing tariffs to China to 125%, the countries that did not retal will be rewarded.

Mexico and Canada included in the 10%tariff.

Increasing tariffs to China due to escalation.

China is the greatest source of US commercial problems

I don’t call it a commercial war, but China has climbed.

We will work on a solution with our business partners.

The pause is not because of the market reaction.

It was the president’s decision.

The market did not understand Trump’s maximum tariffs.

We will see what China does.

We had a good 10 -year treasure bond auction today.

This was Trump’s intention from the beginning.

Source: Fx Street

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