U.S. President Donald Trump has indicated that some exceptions may be granted to the 10% base tariff recently imposed on most of the United States’ trading partners. However, he maintained that the 10% rate constitutes a minimum threshold for any country seeking to negotiate trade agreements with Washington.
Speaking to reporters aboard Air Force One on Friday evening en route to Florida, President Trump stated, “There could be some exceptions for obvious reasons, but I would say that 10% is the minimum.” He did not elaborate on what those “obvious reasons” were, nor did he announce any specific alterations to the administration’s current tariff policy.
Trump’s remarks follow a volatile week for global financial markets, with equity and bond markets reacting sharply to heightened uncertainty surrounding U.S. trade policy. Earlier in the week, the administration announced sweeping tariff increases affecting dozens of countries. However, within hours of the announcement, these measures were postponed after significant disruptions in financial markets and growing concern among investors over the potential global economic repercussions.
The United States continues to apply a general 10% tariff on most imports. In addition, sector-specific duties of 25% remain in place for imports of steel, aluminium, and automobiles. While many countries face the 10% base rate, certain strategic competitors, including China, are subject to significantly higher tariffs. As of this week, imports from China, the world’s second-largest economy, are facing a tariff of 145%.
President Trump’s position suggests a continued willingness to use tariffs as leverage in trade negotiations, positioning the 10% duty as both a baseline measure and a bargaining tool. Foreign governments are reportedly engaging with the U.S. administration in efforts to secure exemptions or alternative trade arrangements.
On 9 April, President Trump announced a temporary suspension of the newly introduced tariffs, delaying their implementation for a period of 90 days. The move appeared designed to stabilise financial markets and allow time for negotiations with affected trading partners. In response, the European Union postponed its planned countermeasures against U.S. goods, signalling a temporary de-escalation in what had threatened to become a major transatlantic trade dispute.
Despite the suspension, the baseline 10% tariff remains in effect, continuing to apply to global imports. Analysts have warned that the lack of clarity regarding potential exemptions and the absence of formal guidelines for negotiations could contribute to persistent market volatility and uncertainty for businesses dependent on international supply chains.
In recent weeks, the Trump administration has faced increasing criticism from U.S. industry groups concerned about the potential costs of the tariff measures. Business leaders have warned of rising import prices, supply chain disruptions, and retaliatory measures from key trading partners. Nevertheless, the White House has insisted that the tariff policy is necessary to protect American manufacturing and reduce trade imbalances.
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