US to impose uniform tariffs on 150 states

US PRESIDENT Donald Trump unveiled a plan to impose a unified tariff rate on more than 150 countries and regions this week.

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“It’s all going to be the same for everyone, for that group,” Trump said during talks with Bahrain’s Crown Prince Salman bin Hamad Al Khalifa at the White House on Wednesday. Those to be covered under the new measure are described by Trump as “not big” and ones that “don’t do that much business”.

In April, the Trump administration introduced a baseline tariff of 10% on economies not covered by bilateral deals. Although Trump has previously suggested the new baseline could be raised to 15% or 20%, he did not specify a new rate.

The US government has already sent letters to about two dozen economies — including the EU, Japan and South Korea - outlining the tariff rates they will face starting August 1, the report said.