Washington, May 10 (IANS). The US will impose at least 10 percent tariffs on income. US President Donald Trump has confirmed the ‘minimum’ 10 percent baseline tariff of his administration. However, it may also be an exception for some countries. South Korea and other countries are trying to avoid the influence of new American charges or reduce it.
Trump’s remarks are seen in response to the question in which Trump was asked if the baseline tariffs will also be effective on the countries offering zero tariffs on US exports.
“You will always have a baseline,” told at the White House after signing the executive orders, according to the report of the Yonhap news agency.
He said, “This is always possible, but basically, you have a minimum 10 percent baseline and some of them will be very high – 40 percent, 50 percent and 60 percent, as they have been with us over the years.”
He said that four-five and more trade deal is “going to happen immediately”, but he did not specify which countries are going to decide those deals with America.
The baseline tariff came into effect on April 5, while Trump stopped the high-country-specific ‘reciperook’ tariff till 8 July, including a 25 percent fee on South Korea to allow to negotiate tariffs and non-tariff barriers and other related issues.
Meanwhile, a spokesman for the US State Department said that continuous cooperation between China and Russia would make the United States and other countries ‘less safe’, as leaders from both countries issued a joint statement defending North Korea.
Chinese President Xi Jinping and Russian President Vladimir Putin issued a joint statement on Thursday, in which he called upon the respective states to give up a unilateral measure and military pressure policy against North Korea.
-IANS
SKT/KR
