US tariff rate to hit 15% or more for some nations, USTR says

The U.S. will increase its tariff rate for some countries to 15% or more, up from the recently set 10%, according to U.S. Trade Representative Jamieson Greer. He made this announcement on Wednesday but did not specify which countries would be affected. In an interview on Fox Business Network’s “Mornings with Maria,” Greer stated that the Trump administration does not plan to raise tariffs on Chinese goods beyond the current levels, as President Donald Trump is scheduled to visit China soon. “Currently, we have a 10% tariff. It will increase to 15% for some countries, and possibly higher for others, following the trends we have observed with tariffs,” Greer explained. Later speaking on Bloomberg TV, Greer mentioned that the White House is working on a proclamation to raise the temporary tariffs to 15% “where appropriate.” He noted that this would consider countries with existing trade agreements but did not elaborate on this point. Greer emphasized the importance of following legal procedures for any tariff increase, stating, “Whenever we impose a tariff, foreign interests will seek to lower it. We can expect lawsuits.” Greer also talked about the government’s strategy to replace emergency tariffs that the Supreme Court invalidated with new duties. These new tariffs, including temporary ones under Section 122 of the Trade Act of 1974, started at a 10% rate on Tuesday and align with current trade agreements. He explained that the investigations into unfair trade practices under Section 301 of the same law will be central to this new approach, focusing on countries that create excess industrial capacity, utilize forced labor, discriminate against U.S. tech companies, or subsidize products like rice and seafood. Greer added that he and Treasury Secretary Scott Bessent have consistently discussed the issue of overcapacity with Chinese officials, noting that unprofitable Chinese companies are allowed to remain operational and continue producing due to government support.