Trump says he will keep 10% tax rate even if there is a deal

On May 9, Mr. Trump announced that he would maintain a minimum basic tax rate of 10% on US trading partners, even if the two sides reached an agreement.

US President Donald Trump on May 8 - Photo: AFP

Mr. Trump expressed the above view after being asked by a reporter if some countries apply a 0% tax rate, the US will adjust the tax rate accordingly.

“You will always be subject to a basic tax rate. I mean, there may be exceptions in certain cases, we will look at them. If someone does something special for us, that is still a possibility.

But basically there will still be a 10% floor. Some will be much higher, 40%, 50%, 60%, like they have done to us for many years,” the White House owner said.

On the same day, May 9, Mr. Trump emphasized that China should open its market to the US, and proposed reducing the tax rate on Chinese goods from 145% to 80%.

"China should open its market to the United States. This would be great for them! Closed markets don't work anymore!", the US leader wrote on the social network Truth Social .

Minutes later, he continued to post: "80% tariffs on China seem reasonable. Up to Scott B (referring to US Treasury Secretary Scott Bessent)."

In an interview with CNBC a day earlier, US Commerce Secretary Howard Lutnick said Washington would announce a series of trade agreements with other countries next month.

“In the next month, we will announce dozens of deals,” he said in the interview.

Asked whether the 10% base tariff would remain regardless of country, Mr Lutnick replied: "I think that tariff will remain."

On the same day, May 8, President Trump and his officials held a press conference to announce the bilateral trade agreement they had just reached with the UK. This is the first trade agreement completed under Trump's second term.

Accordingly, Washington will maintain the 10% tariff on all British goods. However, the US will only impose a 10% tariff on the first 100,000 cars exported from the UK to the US, a significant reduction compared to the current 27.5% tariff.

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Source: https://tuoitre.vn/ong-trump-tuyen-bo-giu-muc-thue-san-10-ke-ca-khi-co-thoa-thuan-20250510080341111.htm