Trump Reaffirms Minimum 10% Tariff on US Imports Amid Global Trade Tensions

US President Donald Trump has reaffirmed a minimum 10 percent baseline tariff on imports, emphasizing that this floor will remain in place even if other countries offer zero tariffs on American exports, though he suggested exceptions could be made for exceptional cases. He noted that tariffs could be significantly higher—up to 40, 50, or 60 percent—reflecting previous treatment of US goods by foreign countries. The baseline tariff took effect on April 5, but the administration has delayed implementing higher, country-specific reciprocal tariffs, such as a proposed 25 percent duty on South Korean imports, until July 8 to allow further negotiations. Trump also indicated that four to five new trade deals are expected soon, though he did not specify the countries involved. Meanwhile, Commerce Secretary Howard Lutnick emphasized that tariffs on China would remain significant, rejecting any complete pause despite ongoing talks, with the current level around 34 percent following prior adjustments. These measures form part of the administration's broader strategy to protect American industries and secure fairer trade agreements.