Four months after Donald Trump shocked the world and roiled markets by unveiling a placard full of tariff rates at the White House Rose Garden, his revisions unveiled Thursday generated a more subdued response among investors. But at an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s, roughly six times higher than they were a year ago. Trump’s latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the US. Trump extended Mexico’s current tariff rates for 90 days to allow more time for trade negotiations, saying the goal now is “signing a Trade Deal somewhere within the 90 Day period of time, or longer.” Ernie Tedeschi, Director of Economics at the Yale Budget Lab, analyzes the average tariff rate, and how the cost may be passed onto consumers. He speaks with Tom Keene and Paul Sweeney on Bloomberg Surveillance. (Source: Bloomberg)Read More
