US President Donald Trump plans to impose tariffs of over 10% on smaller countries, including nations in Africa and the Caribbean, as the Associated Press reported.
"We'll probably set one tariff for all of them," Trump told reporters on Tuesday. He added that it could be "a little over 10% tariff on goods from at least 100 nations."
At the same time, Commerce Secretary Howard Lutnick said that the nations with goods being taxed at these rates would be in Africa and the Caribbean—places that generally do relatively modest levels of trade with the US and would be relatively insignificant for addressing Trump's goals of reducing trade imbalances with the rest of the world.
Source: Trading Economics
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