US leaves open the possibility of maintaining the basic tax rate of 10%

Washington is leaving open the possibility of maintaining a basic 10% tariff on many countries, despite concerns about tax increases and pressure from domestic public opinion.

US Secretary of Commerce Howard Lutnick - Photo: REUTERS

According to the US news site Axios , on July 21, US Secretary of Commerce Howard Lutnick affirmed that Washington is still aiming to impose a basic tariff of 10% on many countries, despite recent statements by President Trump suggesting that the tax rate could increase to 15% or even 20%.

"People should understand that small countries, including many in Latin America, the Caribbean and Africa, will pay a base tariff of 10 percent," Lutnick said on CBS's Face the Nation. "Large economies will either open their markets or pay their fair share of tariffs to the United States."

According to Mr. Lutnick, August 1 is the deadline for countries to negotiate if they want a more favorable tax rate, and no country will "negotiate to completely eliminate the tax". Besides, he also confirmed: "10% will definitely be maintained. Many countries may have to pay higher rates".

Earlier this month, President Trump sent letters to dozens of countries, unilaterally imposing new tariffs effective August 1. So far, only Indonesia has reached a preliminary agreement, but the specific content has not been officially announced.

According to an analysis by the Yale Budget Lab, the average tax burden on Americans — including the impact of tax letters — is now the highest since 1910, or about $2,800 a year per household.

A new CBS poll released on July 21 found that 60% of respondents oppose tariffs, and 61% believe the administration is placing too much emphasis on tax policy.

But Mr. Lutnick didn't seem to mind: "People will love the deals that President Trump and I are making. They will love them."

He also dismissed concerns that tariffs would lead to higher prices: "I think inflation will remain where it is."

However, according to Axios , a recent consumer price index (CPI) report shows that inflation in the US is gradually increasing in groups of goods directly affected by taxes.

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Source: https://tuoitre.vn/my-de-ngo-viec-duy-tri-muc-thue-co-ban-10-20250721102256152.htm