The plan for other US trade deals is to keep 10% tariff floor - report ...Middle East

BREAKING: Wall Street execs with contracts in the White House say the plan for trade deals on tap — India, Japan, South Korea and Australia— is to have tariffs at or around 10 per like UK. China, of course, is another story. Developing

I don't seem many countries offering up concessions for the privilege of exporting with 10% tariffs. If anything, others are likely to retaliate. This helps to explain why progress with Japan quickly fell apart and why Trump is now looking to dictate trade deals.

This is something we sniffed out at the beginning: That the high 'reciprocal' tariffs were some kind of opening-bid smokescreen to get countries to accept 10%. We'll have to see if it works.

This article was written by Adam Button at www.forexlive.com.

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