FX.co ★ Trump to Impose Tariffs of Over 10% on Smaller Nations

President Donald Trump of the United States has announced plans to impose tariffs exceeding 10% on smaller countries, including several in Africa and the Caribbean, as reported by the Associated Press. "We will likely establish a uniform tariff for all these nations," Trump stated to the media on Tuesday. He mentioned the possibility of implementing "a slightly above 10% tariff on imports from at least 100 countries." Meanwhile, Commerce Secretary Howard Lutnick noted that the countries facing these tariffs primarily engage in relatively modest trade with the US. As such, the impact would be minimal in terms of achieving Trump's broader objective of reducing global trade imbalances.