Donald Trump’s Treasury secretary Scott Bessent is pushing for new universal tariffs on US imports to start at 2.5 per cent and rise gradually, according to four people familiar with the proposal.
The 2.5 per cent levy would move higher by the same amount each month, the people familiar with it said, giving businesses time to adjust and countries the chance to negotiate with the US president’s administration.
The levies could be pushed up to as high as 20 per cent — in line with Trump’s maximalist position on the campaign trail last year. But a gradual introduction would be more moderate than the immediate action some countries feared.
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