Escalating Trade Tensions: US to Hike Import Tariffs
The US Treasury forecasts a surge in global import tariffs as early as this week, signaling an intensification of trade disputes and economic uncertainty.
Washington - According to Scott Bessent, a senior official at the US Treasury Department, the United States is poised to increase its global tariff on imports from the existing 10% rate to a higher level, likely sometime this week.
This anticipated move comes amid ongoing trade tensions and negotiations between the US and its key trading partners around the world. The prospect of higher tariffs has raised concerns among businesses and consumers who fear the potential impact on prices, supply chains, and overall economic stability.
The current 10% tariff on a wide range of imported goods was initially imposed by the Trump administration in 2018 as part of its
Source: BBC News
