US Trade Chief Says Tariff Caps Will Hold for EU, Japan Under New Proposal
Bloomberg.com • • world
Key Points:
- President Trump's trade chief expressed confidence that new US tariffs can be implemented without violating existing bilateral agreements, emphasizing that "a deal's a deal" for economies with capped tariffs like the EU and Japan.
- The White House proposed imposing import taxes of at least 10% on goods from 60 economies following a Section 301 investigation into forced labor practices.
- This tariff proposal has created uncertainty among trading partners, including the EU, which previously negotiated tariff caps with the US in an agreement reached in Turnberry, Scotland.