US to keep 10% baseline tariffs on most countries including Mexico and Canada, says treasury secretary
The US treasury secretary, Scott Bessent, has been speaking to reporters outside the White House after Donald Trump announced he authorised a 90-day pause on tariffs on most countries and a China tariff raise to 125%.
Bessent said countries who did not retaliate against the US tariff announcement last week will be “rewarded”.
“Do not retaliate, and you will be rewarded,” he said. He noted that the tariff rate on Chinese goods has been raised “due to their insistence on escalation”.
Mexico and Canada are included in the 10% baseline tariffs, he said.
