Trump: There is a baseline of 10% tariffs but could be excemptions

• Some will be higher than 10%
• Could be exceptions
• We have to make a great deal with China
• He’s given a number to Bessent on how low he is willing to go

Trump has front-run his own negotiation here to some extent. We’ll just have to see how it goes on the weekend and what China wants and is willing to give.

As for the rest of the world: The big question is ‘who is willing to accept 10% and who isn’t?’

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