A Moving Target for Tariff Rates

Countries around the world are racing against the August 1 deadline to secure trade deals. Tariff rates have been a moving target. All countries were facing a ten percent reciprocal tariff, but President Trump now intends to push the baseline tariff rate to 15-to-20 percent. In addition, the U.S. is threatening Brazil with a 50 percent tariff rate. The proposed tariff rate is 35 percent for Canada, 30 percent for Mexico and the European Union, 26 percent for India, 25 percent for South Korea and 20 percent for Vietnam and the Philippines.