U.S. Trade Tariffs to Rise Amid Strategic Shifts

The U.S. plans to raise tariffs to 15% or higher for some countries, maintaining current levels for China. The tariffs, part of a broader strategy to address unfair trade practices and excess industrial capacity, aim to enforce existing trade agreements with nations like Indonesia.

On Wednesday, U.S. Trade Representative Jamieson Greer indicated that the U.S. will heighten tariffs to 15% or more for certain nations, although specific countries were not named. The announcement was made on Fox Business Network's 'Mornings with Maria.' Greer reassured that the Trump administration does not intend to increase tariffs on Chinese products beyond the existing rates.

Greer explained that the new tariffs, rising from an initial 10%, align with prior trade measures. The initiative seeks to replace emergency tariffs invalidated by the Supreme Court, using temporary tariffs under Section 122 of the Trade Act of 1974. Section 301 investigations, which scrutinize unfair trade practices, will play a pivotal role in this strategy, targeting excess industrial capacity and discriminatory trade practices.

Moreover, Greer mentioned continuous dialogue with Chinese officials regarding industrial capacity concerns. Highlighting U.S. strategy, he affirmed the intention not to escalate tariffs on Chinese goods further, in adherence to existing agreements. The administration plans to ensure compliance from trade partners like Indonesia through Section 301 investigations, potentially adjusting tariffs based on the findings.

(With inputs from agencies.)