Scott Bessent pushes a gradual 2.5% universal plan of American tariffs

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Treasury secretary Donald Trump, Scott Bessent, presses on new universal tariffs on the US import to start from 2.5 percent and gradually grow, according to four people familiar with the proposal.

People known for the fact that they gave 2.5 % of the fee for the same amount every month, give companies time to adapt, and countries are chances to negotiate with the administration of the US President.

Fees could be increased to 20 percent – in accordance with Trump Maximalist position on the campaign trail last year. But a gradual introduction would be more moderate than immediate action that some countries were afraid of.

Two people marked with discussions stated that it was not clear Bessent He convinced other central stakeholders, including Howard Lutnicka, Trump for the Secretary for Trade, to accept his proposals.

The tariff policy is already in the center of Fierce trade Debates between hawks such as Peter Navarro and Jamieson Greer and moderate such as Bessent. The Wall Street investor was conveniently confirmed as the next secretary of the US Treasury as a result of the Senate voting in the amount of 68-29 on Monday evening.

Trump threatened to force tariffs up to 25 percent for imports from Canada and Mexico, this weekend, and in recent days Colombia threat with 25 % tariffs in the disputes.

Another person who knew Trump’s thinking said that he weighs various options. “There is not a single plan about which the president is still ready to decide.”

A person familiar with the Bessent’s thinking refused to comment on the subject of the proposal, but said: “he does not develop any plans, but if it was confirmed that he could not be part of the conversation.”

While Bessent and other supporters of the low initial tariff believe that it would give countries and companies time to adapt and negotiate, critics counteract that the higher initial rate will send more clear messages.

Trump made high tariffs with the core of his rhetoric of the “America” ​​campaign last year, Sworn in September To “tax” foreign nations “at levels to which they are not used to.”

But since its inauguration on January 20, the main movement of the president has been the publication of the Memorandum depicting probes in the US trade policy, the cause of the country’s commercial deficits and whether competitors are manipulating currencies and the taxation of American companies unfairly.

Asked by reporters last week if he planned to introduce universal tariffs, Trump replied: “We can. But we are not ready for it yet. “

Trade analysts and lawyers said that Trump can quickly impose common tariffs, using executive rights, such as the International Act on emergency right, which allows the president to respond to crisis situations by means of economic means.

However, trade experts also warned that the use of IEEP for issuing wide tariffs will probably face the legal challenges of business groups.

Trump, who has long been against the US trading deficit, suggested that the tariffs would be a way to increase income for the country.

“Instead of taxing our citizens with enriching other countries, we will tariff and tax foreign countries to enrich our citizens,” he said in his inaugural speech.

During interrogations confirming the Senate in the USA, Bessent said that Trump’s administration would use tariffs to resolve unfair commercial practices, increase the US government’s income and strike agreements with foreign countries.

The White House did not answer the request for comment.

Additional reports Myles McCormick in Washington