US President Donald Trump said that his administration is considering the possibility of exempting some countries from the minimum 10% tariff, amid new US trade policies that are generating global debates. Speaking aboard Air Force One, Trump emphasized that the 10% tariff is a "floor rate", but left open the possibility of "a few exceptions" without specifying the exact reasons for exemption.
Earlier on April 2nd, President Trump announced a new tariff policy applying to 185 countries and territories. According to this policy, most imported goods into the US will be subject to a basic 10% tariff starting from April 5th. However, for some countries considered to have unfair trade practices, retaliatory tariffs could reach up to 49% and will officially be applied from April 9th.
China is the most heavily affected country in this tariff adjustment. Initially, the country was subjected to a 49% retaliatory tariff. But earlier this week, President Trump announced a significant increase in tariffs on Chinese goods to 125%, in addition to the previous 20%, bringing the actual total tariff to 145%.
However, immediately after the retaliatory tariff policy officially took effect, Trump unexpectedly announced a 90-day suspension for most countries to create an opportunity for negotiations, except for China.
The Trump administration stated that the goal of this tariff adjustment is to encourage countries to renegotiate more fair trade terms with the US. If after 90 days the countries do not reach a suitable agreement, higher retaliatory tariffs will be reapplied.